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May 18, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Packaged Frozen Food Merchant Wholesalers Loan | ||||
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How Hard Is It to Get a Small Business Loan in Orlando, Florida?
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How to Get a Loan for Packaged Frozen Food Merchant WholesalersLooking for business loans for packaged frozen food merchant wholesalers? The SBA may be the answer. This $600,000 packaged frozen food merchant wholesalers loan was issued by a Michigan bank. This small business knew how to go about getting a business bank loan. Based in Orlando, Florida, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: PACKAGED FROZEN FOOD MERCHANT WHOLESALERS SBA Loan Lender FIFTH THIRD BANK This lender provides SBA 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 424420 - Packaged Frozen Food Merchant Wholesalers Loan Approval Date 2/28/2007 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. 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 9 employees. The SBA loan application for the borrower indicated that the funding would help generate 1 new job. Next Steps for Getting an SBA Loan 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $600,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 7A Banks in Grand Rapids, Michigan Browse All Business Loan Sources for Michigan
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