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May 2, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Game, Toy, And Children's Vehicle Manufacturing Loan | ||||
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Banks for Indianapolis Businesses
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Indiana SBA Loan Issued to Game, Toy, And Children's Vehicle Manufacturing CompanyLooking to get an Indiana small business loan? This Indiana entrepreneur got a small business loan, provided by a Michigan bank that works with the SBA to help small business owners. By giving the right information to Fifth Third Bank, this Indianapolis, 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: GAME, TOY, AND CHILDREN'S VEHICLE MANUFACTURING SBA Loan Lender FIFTH THIRD BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339932 - Game, Toy, and Children's Vehicle Manufacturing Loan Approval Date 12/19/2007 Loan Approval Gross Amount $631,000 Loan Approval from the SBA Of the total $631,000 loan amount, the SBA guaranteed $473,250. 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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Grand Rapids, Michigan Banks for Small Business
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