Indiana Bank Loan Issued to Potato Chips, Corn Chips, And Similar Snacks Company
Looking to get an Indiana bank loan? This Indiana entrepreneur got a bank loan, provided by an Indiana bank that works with the SBA to help small business owners.
This company, based in Indianapolis, Indiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Forum Cu. We've got the inside scoop on this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: POTATO CHIPS, CORN CHIPS, AND SIMILAR SNACKS
INDIANAPOLIS, IN 46219
SBA Loan Lender
FORUM CU
11580 USA PKWY
FISHERS, IN 46038
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
2096 - Potato Chips, Corn Chips, and Similar Snacks
NAICS Code
311919 - Snack Food Manufacturing
Loan Approval Date
12/12/2001
Loan Approval Gross Amount
$65,500
Loan Approval from the SBA
Of the total $65,500 loan amount, the SBA guaranteed $55,675.
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 11 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your 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.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $65,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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