Small Business Loans by Fifth Third Bank
Flexible loan options to fit the unique needs of your business
Whether you’re starting a business, managing your business’s growth or even buying a business, chances are, you’ll need financing—a small business loan or business line of credit.A SBA loan from Fifth Third can make all the difference.
Backed by the Small Business Administration, SBA loans1 and lines of credit1 offer more flexible borrowing amounts and repayment options, which usually mean lower monthly payments for you.1
And because there are different types of SBA loans, you can find the right loan for your needs, from working capital to equipment financing to commercial real estate—and everything in between.
- Fixed or variable interest rates with flexible terms up to 25 years and no balloon payments, depending on the purpose of the loan.
- The option of financing closing costs 3
- A down payment as low as 10% on commercial real estate loans.
- Loan limit up to $5,000,000
- Loan proceeds may be used for commercial real estate expansion/new construction, working capital,
equipment finance, refinancing existing debt, or exporting
- Term loan or line of credit
- Loan limit up to $350,000
- Similar to 7(a) loan, but simpler application process and faster approval
Designed for veterans and members of the military community4 who want to establish or expand small businesses.
- Current spouses or widowed spouses of a service member or veteran may also be eligible to participate
- Loan limits from $125,000 to over $10,000,000
- Designed to help small businesses acquire fixed assets, such as commercial real estate or equipment
- Provide affordable, long-term financing through certified development companies (CDCs) in cooperation with Fifth Third Bank
- Borrower makes a down payment as low as 10% on the purchase of commercial real estate and equipment
- Includes job creation requirement6
- This program offers small businesses a revolving line of credit for short-term and cyclical working capital needs.
- Line of credit up to $5,000,000 available.
The SBA has specific requirements to qualify for SBA financing:
- Businesses must be for-profit.
- Businesses must operate in the United States or its possessions
- Businesses cannot have more than $15,000,000 in maximum tangible net worth and a two-year average net income after federal income tax of $5,000,000
- Businesses must show that the loan can be repaid from existing cash flow
Category: Bank loan