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May 9, 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 > Book Stores Loan | ||||
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Michigan Bank SBA Loans
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Fifth Third Bank SBA Loan to Book Stores CompanyFifth Third Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Tampa, Florida was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Grand Rapids, Michigan. Here are the details on this Florida small business loan. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender FIFTH THIRD BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 451211 - Book Stores Loan Approval Date 10/27/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Banks in Grand Rapids, Michigan
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