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April 29, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
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Raising Money in Indianapolis, Indiana With SBA Loans
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Indianapolis, Indiana Entrepreneur Gets a Business LoanSBA loans in Indiana are hard to find these days. We take a look at one Indiana SBA loan, provided by a Michigan bank, that was approved by the SBA. This company, based in Indianapolis, 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 Citizens Bank. We've got the inside scoop on this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender CITIZENS BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 6/1/2006 Loan Approval Gross Amount $148,500 Loan Approval from the SBA Of the total $148,500 loan amount, the SBA guaranteed $126,225. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This SBA loan was for $148,500. How would you spend $148,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Lenders in Lansing, Michigan
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