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May 2, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Columbus, Business Loans > Irwin Union Bank & Trust Columbus Business Loans > Home Centers Loan | ||||
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Business Loans for Indianapolis Entrepreneurs
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Home Centers Bank LoansLooking for bank loans for home centers? Talk to a banker who works with the SBA. This $75,000 home centers loan was issued by an Indiana bank. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Irwin Union Bank & Trust, out of Columbus, Indiana. The loan was granted and they received $75,000 to help grow their Indianapolis, Indiana business. SBA Loan Borrower COMPANY TYPE: HOME CENTERS SBA Loan Lender IRWIN UNION BANK & TRUST This bank loan 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. NAICS Code 444110 - Home Centers Loan Approval Date 5/4/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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