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May 11, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Avon, Business Loans > Irwin Union Bank & Trust Avon Business Loans > Coin-Operated Laundries And Drycleaning Loan | ||||
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Banks in Avon, Indiana That Make SBA Loans
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Avon, Indiana Lender Lends Money to Coin-Operated Laundries And Drycleaning CompanyWant to talk with an Avon, Indiana bank about a small business loan? Here's one Indiana business loan, issued by an Avon bank, that was approved by the SBA. Applying for an SBA loan with Irwin Union Bank & Trust worked out well for our friends at one local firm in Plainfield, Indiana. The business was able to get an SBA loan for $150,000. Awesome! SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING SBA Loan Lender IRWIN UNION BANK & TRUST 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 7215 - Coin-Operated Laundries and Drycleaning NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 12/21/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 9 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 Irwin Union Bank & Trust 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: Who Lends Money to Small Businesses in Avon, Indiana
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