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May 17, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Indianapolis, Business Loans > Fifth Third Bank Indianapolis Business Loans > Trucking Loan | ||||
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Indiana Small Business SBA Loans
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Fifth Third Bank Gives Bank Loan to Trucking CompanyIndianaSmall business loans are available to Indiana small business owners through the SBA. In this case, an Indiana bank provides the loan. By giving the right information to Fifth Third Bank, this Fort Wayne, 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: TRUCKING SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4213 - Trucking Loan Approval Date 6/15/2000 Loan Approval Gross Amount $81,000 Loan Approval from the SBA Of the total $81,000 loan amount, the SBA guaranteed $64,800. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 7A Banks for Indianapolis, Indiana Loans
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