Cambridge City, Indiana Entrepreneur Gets a Small Business Loan

Would an Indiana small business loan help your small business to grow and prosper? If so, you may want to talk with this Indiana bank, which offers SBA loans to Indiana entrepreneurs.

By giving the right information to Wayne Bank And Trust Co., this Cambridge City, Indiana business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CAMBRIDGE CITY, IN 47327

SBA Loan Lender

WAYNE BANK AND TRUST CO.
145 W MAIN
CAMBRIDGE CITY, IN 47327

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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/31/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 7 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Cambridge City IN, you ought to talk with a local Cambridge City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cambridge City businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wayne Bank And Trust Co. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wayne Bank And Trust Co. 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:

Equity Financing

SBA 7A Banks in Cambridge City, Indiana

Indiana SBA Banks