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April 29, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Indianapolis, Business Loans > Citizens Bank Indianapolis Business Loans > Electrical Wiring Supplies Loan | ||||
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Small Business Banks for Business Owners in Indiana
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Indiana SBA Loan Issued to Electrical Wiring Supplies CompanyIndianaSmall business loans are available to Indiana small business owners through the SBA. In this case, an Indiana bank provides the loan. Getting a small business loan in Beech Grove, Indiana was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank. Here are the details on this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL WIRING SUPPLIES SBA Loan Lender CITIZENS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5063 - Electrical Wiring Supplies NAICS Code 421610 - Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials Loan Approval Date 11/18/2002 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Indianapolis, Indiana Banks for Small Business
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