Forum Cu Gives SBA Loan to Wood Partitions And Fixtures Company

Small business loans in Indiana are are few and far betweeen these days. We take a look at one Indiana small business loan, provided by an Indiana bank, that was approved by the SBA.

This small business, 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: WOOD PARTITIONS AND FIXTURES
INDIANAPOLIS, IN 46234

SBA Loan Lender

FORUM CU
11580 USA PKWY
FISHERS, IN 46038

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2541 - Wood Partitions and Fixtures

NAICS Code

337215 - Showcase, Partition, Shelving, and Locker Manufacturing

Loan Approval Date

6/6/2002

Loan Approval Gross Amount

$46,000

Loan Approval from the SBA

Of the total $46,000 loan amount, the SBA guaranteed $39,100.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Forum Cu and they will explain how you can get an SBA loan for your company.

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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