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May 15, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > North Salem, Business Loans > North Salem State Bank North Salem Business Loans > Insurance Related Activities Loan | ||||
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How to Get Commercial Loans in Greencastle, Indiana
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Greencastle, Indiana Entrepreneur Gets a Bank LoanIndianaBank loans are available to Indiana firms through the SBA. In this case, an Indiana bank provides the loan. By giving the right information to North Salem State Bank, this Greencastle, Indiana business was able to get an SBA loan. To get this loan, the entrepreneur 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: INSURANCE RELATED ACTIVITIES SBA Loan Lender NORTH SALEM STATE BANK This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524298 - Insurance Related Activities Loan Approval Date 1/11/2008 Loan Approval Gross Amount $810,000 Loan Approval from the SBA Of the total $810,000 loan amount, the SBA guaranteed $607,500. 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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Greencastle or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Microlending as a Small Business Funding Source Small Bank Loans in North Salem, Indiana Browse All Business Loan Sources for Indiana
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