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May 16, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Food Stores Loan | ||||
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Fifth Third Bank
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Business Loan from Fifth Third Bank Given to Food Stores CompanyFifth Third Bank has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $51,000 to help grow their Mchenry, Illinois business. SBA Loan Borrower COMPANY TYPE: FOOD STORES SBA Loan Lender FIFTH THIRD BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5499 - Food Stores NAICS Code 446191 - Food Supplement Stores Loan Approval Date 11/3/2003 Loan Approval Gross Amount $51,000 Loan Approval from the SBA Of the total $51,000 loan amount, the SBA guaranteed $43,350. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $51,000 loan. Remember, anyone can do it... so why not you? 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: SBA Banks in Grand Rapids, Michigan
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