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May 17, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Petroleum And Petroleum Products Merchant Wholesalers Loan | ||||
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Examples of Laura SBA Loans
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Commercial Loans for Petroleum and Petroleum Products Merchant WholesalersLooking for commercial loans for petroleum and petroleum products merchant wholesalers? The SBA may be the answer. This $290,000 petroleum and petroleum products merchant wholesalers loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Laura, Ohio was able to borrow $290,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $217,500 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS MERCHANT WHOLESALERS SBA Loan Lender FIFTH THIRD BANK This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424720 - Petroleum and Petroleum Products Merchant Wholesalers Loan Approval Date 8/8/2006 Loan Approval Gross Amount $290,000 Loan Approval from the SBA Of the total $290,000 loan amount, the SBA guaranteed $217,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fifth Third Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fifth Third Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Cincinnati, Ohio
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