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May 11, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Mooresville, Business Loans > Citizens Bank Mooresville Business Loans > Retail Stores Loan | ||||
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Banks Doing SBA Loans in Indiana
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Mooresville, Indiana Lender Lends Money to Retail Stores CompanyWant to talk with a Mooresville, Indiana bank about a business loan? Here's one Indiana business loan, issued by a Mooresville bank, that was approved by the SBA. Applying for an SBA loan with Citizens Bank worked out well for our friends at one local company in Mooresville, Indiana. They got an SBA loan for $105,000. Way to go! SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender CITIZENS BANK This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453910 - Pet and Pet Supplies Stores Loan Approval Date 7/30/2004 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $78,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Citizens Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Mooresville, Indiana
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