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May 11, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Manufactured Home Manufacturing Loan | ||||
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How to Get SBA Loans in Elkhart, Indiana
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Manufactured Home Manufacturing LoansLooking for loans for manufactured home manufacturing? Try the SBA. This $100,000 manufactured home manufacturing loan was issued by an Indiana bank. This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with 1st Source Bank, out of South Bend, Indiana. The loan was granted and they received $100,000 to help grow their Elkhart, Indiana business. SBA Loan Borrower COMPANY TYPE: MANUFACTURED HOME MANUFACTURING SBA Loan Lender 1ST SOURCE BANK The lender provided this SBA bank 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 321991 - Manufactured Home Manufacturing Loan Approval Date 12/13/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 32 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 37 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st Source Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st Source Bank 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: Family and Friend Investors - Your First Financiers SBA Participating Banks in South Bend, Indiana
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