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April 25, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Signs By Tomorrow Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Fifth Third Bank Provides SBA Loan to Buy Signs By Tomorrow FranchiseBorrowing money to buy a Signs By Tomorrow franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Signs By Tomorrow franchise shouldn't be too tough. In 2003, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Grand Rapids, Michigan. Because Signs By Tomorrow was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis. SBA Loan Borrower SIGNS BY TOMORROW SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3993 - Signs and Advertising Specialties NAICS Code 339950 - Sign Manufacturing Loan Approval Date 8/14/2003 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Signs By Tomorrow franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Obtaining Funding From a Venture Capitalist Best Banks for Small Business in Grand Rapids, Michigan
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