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April 28, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Fishers, Business Loans > Forum Cu Fishers Business Loans > Carpet And Upholstery Cleaning Loan | ||||
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Fishers, Indiana SBA 7A Banks
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Fishers, Indiana Bank Lends Money to Carpet And Upholstery Cleaning Company in Indianapolis, IndianaWant to talk with a Fishers, Indiana bank about an SBA loan? Here's one Indiana business loan, issued by a Fishers bank, that was approved by the SBA. Applying for an SBA loan with Forum Cu worked out well for our friends at one local business in Indianapolis, Indiana. They received an SBA loan for $18,000. Awesome! SBA Loan Borrower COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING SBA Loan Lender FORUM CU This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7217 - Carpet and Upholstery Cleaning NAICS Code 561740 - Carpet and Upholstery Cleaning Services Loan Approval Date 11/19/2001 Loan Approval Gross Amount $18,000 Loan Approval from the SBA Of the total $18,000 loan amount, the SBA guaranteed $15,300. 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 2 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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