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May 2, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Skyline Chili Loan | ||||
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Raising Money in Wilmington, Ohio With SBA Loans
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Wilmington, OH Entrepreneur Gets SBA Loan to Buy Skyline Chili FranchiseBorrowing money to buy a Skyline Chili franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Wilmington, Ohio and are interested in buying a Skyline Chili franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Fifth Third Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower SKYLINE CHILI SBA Loan Lender FIFTH THIRD BANK This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a deep knowledge SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/31/2004 Loan Approval Gross Amount $790,000 Loan Approval from the SBA Of the total $790,000 loan amount, the SBA guaranteed $592,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Skyline Chili franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $790,000 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: Small Bank Loans in Cincinnati, Ohio
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