SBA Loan from The Huntington National Bank Helps Funeral Service And Crematories Company
The Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Indiana entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Whiteland, Indiana was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Columbus, Ohio. Here are the details on this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES
WHITELAND, IN 46184
SBA Loan Lender
THE HUNTINGTON NATIONAL BANK
66 S THIRD ST
COLUMBUS, OH 43215
This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7261 - Funeral Service and Crematories
NAICS Code
812210 - Funeral Homes and Funeral Services
Loan Approval Date
1/7/2005
Loan Approval Gross Amount
$76,000
Loan Approval from the SBA
Of the total $76,000 loan amount, the SBA guaranteed $64,600.
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 6 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
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.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from The Huntington National 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:
Determining Proper Capital Structure for a Business
Best Columbus, Ohio Banks for Small Business
Getting an SBA Loan in Ohio