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May 11, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Converse, Business Loans > First Farmers Bank And Trust Converse Business Loans > Theater Companies And Dinner Theaters Loan | ||||
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Raising Money in Sharpsville, Indiana With SBA Loans
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Sharpsville, Indiana Entrepreneur Gets a Business LoanIndianaBusiness loans are available to Indiana business owners through the SBA. In this case, an Indiana bank provides the loan. This small business, based in Sharpsville, Indiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Farmers Bank And Trust. We've got the inside scoop on this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: THEATER COMPANIES AND DINNER THEATERS SBA Loan Lender FIRST FARMERS BANK AND TRUST The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 711110 - Theater Companies and Dinner Theaters Loan Approval Date 12/17/2004 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 only one employee. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 6 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $60,000 loan. Remember, fight for what you want, and it will be yours! 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 Converse, Indiana
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