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May 16, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Highland, Business Loans > First Midwest Bank Highland Business Loans > Eating Places Loan | ||||
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Banks for Hammond Businesses
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First Midwest Bank Gives SBA Loan to Eating Places CompanyBusiness loans in Indiana are are few and far betweeen these days. We take a look at one Indiana business loan, provided by an Indiana bank, that was approved by the SBA. You can learn something about getting a small business loan in Hammond, Indiana by studying this loan to a local business, made back in 2000. Banks like First Midwest Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIRST MIDWEST BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 5/24/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Highland, Indiana
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