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May 14, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Traverse City, Business Loans > Irwin Union Bank & Trust Traverse City Business Loans > Accounting, Auditing, And Bookkeeping Services Loan | ||||
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How Hard Is It to Get a Small Business Loan in Crothersville, Indiana?
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Raising Money for Certified Public AccountantsLooking for bank loans for certified public accountants? The SBA may be the answer. This $125,000 certified public accountants loan was issued by a Michigan bank. This company knew how to go about getting a business bank loan. Based in Crothersville, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Irwin Union Bank & Trust, based in Traverse City, Michigan. SBA Loan Borrower COMPANY TYPE: ACCOUNTING, AUDITING, AND BOOKKEEPING SERVICES SBA Loan Lender IRWIN UNION BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8721 - Accounting, Auditing, and Bookkeeping Services NAICS Code 541211 - Certified Public Accountants Loan Approval Date 1/31/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Irwin Union Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks for Small Business in Traverse City, Michigan
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