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May 16, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Amusement And Recreation Industries Loan | ||||
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Kentucky Small Business Loans from Fifth Third Bank
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Dover, Kentucky Business Gets SBA-Guaranteed Funding from Fifth Third BankFifth Third Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kentucky entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Dover, Kentucky, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES SBA Loan Lender FIFTH THIRD BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713990 - Amusement and Recreation Industries Loan Approval Date 7/18/2006 Loan Approval Gross Amount $480,000 Loan Approval from the SBA Of the total $480,000 loan amount, the SBA guaranteed $360,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Family and Friend Investors - Your First Financiers SBA 7A Banks in Grand Rapids, Michigan
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