Business Loan from Irwin Union Bank & Trust Given to Electrical Contractors And Wiring Installation Contractors Company
Irwin Union Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how an Indiana entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Avon, Indiana was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Irwin Union Bank & Trust, operating out of Columbus, Indiana. Here are the details on this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
AVON, IN 46123
SBA Loan Lender
IRWIN UNION BANK & TRUST
500 WASHINGTON ST
COLUMBUS, IN 47201
This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
238210 - Electrical Contractors and Wiring Installation Contractors
Loan Approval Date
5/22/2003
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $125,000.
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 36 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 26 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Irwin Union Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Irwin Union Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
The Art of Bootstrapping
Good Banks for Small Business in Columbus, Indiana
SBA Participating Banks in Indiana