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May 18, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Greensburg, Business Loans > Main Source Bank Greensburg Business Loans > Excavation Work Loan | ||||
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How to Get a Business Loan from Main Source Bank
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Business Loan from Main Source Bank Given to Excavation Work CompanyMain Source Bank has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them. Getting a small business loan in Libert, Indiana was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Main Source Bank, operating out of Greensburg, Indiana. Here are the details on this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender MAIN SOURCE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 2/8/2001 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Main Source Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Borrowing Money from Friends and Family Best Banks in Greensburg, Indiana
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