Grabill Bank SBA Loan to Electrical Equipment And Component Manufacturing Company

An SBA loan from Grabill Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fort Wayne, Indiana business owner got a $450,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Fort Wayne, Indiana, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Grabill Bank, based in Fort Wayne, Indiana.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL EQUIPMENT AND COMPONENT MANUFACTURING
FORT WAYNE, IN 46804

SBA Loan Lender

GRABILL BANK
5217 MERCHANDISE DR
FORT WAYNE, IN 46825

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

4/24/2006

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Grabill Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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