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May 18, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Florists Loan | ||||
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Indiana SBA Lenders
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South Bend, Indiana Bank Gives SBA Loan to Florists CompanyWant to talk with a South Bend, Indiana bank about a small business loan? Here's one Michigan business loan, issued by a South Bend bank, that was approved by the SBA. Applying for an SBA loan with 1st Source Bank worked out well for our friends at one local business in Dowagiac, Michigan. The business was able to get an SBA loan for $75,000. Sweet! SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender 1ST SOURCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 453110 - Florists Loan Approval Date 8/31/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st Source Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: SBA Approved Banks in South Bend, Indiana
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