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May 15, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Columbus, Business Loans > Irwin Union Bank & Trust Columbus Business Loans > Folding Paperboard Box Manufacturing Loan | ||||
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SBA Lenders in Indiana
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Seymour, Indiana Business Gets SBA-Guaranteed Funding from Irwin Union Bank & TrustIrwin Union Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Seymour, Indiana, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Irwin Union Bank & Trust, based in Columbus, Indiana. SBA Loan Borrower COMPANY TYPE: FOLDING PAPERBOARD BOX MANUFACTURING SBA Loan Lender IRWIN UNION BANK & TRUST As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 322212 - Folding Paperboard Box Manufacturing Loan Approval Date 7/18/2006 Loan Approval Gross Amount $403,100 Loan Approval from the SBA Of the total $403,100 loan amount, the SBA guaranteed $302,325. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 31 employees. The loan application indicated that the loan would help retain 31 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Banks in Columbus, Indiana
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