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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 > Landscaping Services Loan | ||||
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North Salem State Bank
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SBA Loan from North Salem State Bank Helps Landscaping Services CompanyAn SBA loan from North Salem State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lebanon, Indiana business owner got a $350,000 loan. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with North Salem State Bank, out of North Salem, Indiana. The loan was granted and they received $350,000 to help grow their Lebanon, Indiana business. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender NORTH SALEM STATE BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 561730 - Landscaping Services Loan Approval Date 9/16/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA 7A Banks for North Salem, Indiana Loans Getting an SBA Loan in Indiana
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