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May 18, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Aurora, Business Loans > People's Community Bank Aurora Business Loans > Bread, Cake, And Related Bakery Products Loan | ||||
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SBA 7A Banks for Aurora, Indiana Business Owners
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Commercial Bakeries Business LoansWith these business loans for commercial bakeries, the SBA guarantees the lender that the loan will be repaid. This commercial bakeries loan for $60,000 was given to an Indiana entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aurora, Indiana was able to borrow $60,000 from People's Community Bank. The SBA made the loan possible by guaranteeing $51,000 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS SBA Loan Lender PEOPLE'S COMMUNITY BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2051 - Bread, Cake, and Related Bakery Products NAICS Code 311812 - Commercial Bakeries Loan Approval Date 5/23/2003 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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 company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Determining Proper Capital Structure for a Business Small Business Banks in Aurora, Indiana Where to Get an SBA Loan Indiana
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