Loan to Buy One-Hour Martinizing Franchise Issued By Fifth Third Bank

Need money to purchase an One-Hour Martinizing franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Fort Myers, Florida needed money to invest in an One-Hour Martinizing franchise back in 2005. Fifth Third Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

ONE HOUR MARTINIZING DRY CLEAN
FORT MYERS, FL 33901

SBA Loan Lender

FIFTH THIRD BANK
38 FOUNTAIN SQ PLAZA
CINCINNATI, OH 45263

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7219 - Laundry and Garment Services

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an One-Hour Martinizing franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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