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May 3, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Columbus, Business Loans > Fifth Third Bank Columbus Business Loans > Shoe Stores Loan | ||||
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Fifth Third Bank Business Loan Reynoldsburg, Ohio
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Fifth Third Bank SBA Loan to Shoe Stores CompanyAn SBA loan from Fifth Third Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Reynoldsburg, Ohio business owner got a $150,000 loan. Getting a small business loan in Reynoldsburg, Ohio was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Columbus, Ohio. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: SHOE 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 5661 - Shoe Stores NAICS Code 448210 - Shoe Stores Loan Approval Date 8/2/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family Best Banks for Small Business in Columbus, Ohio Browse All Business Loan Sources for Ohio
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