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May 7, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Bloomfield, Business Loans > Bloomfield State Bank Bloomfield Business Loans > Mining Machinery And Equipment Manufacturing Loan | ||||
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Indiana Bank SBA Loans
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SBA Loan from Bloomfield State Bank Helps Mining Machinery And Equipment Manufacturing CompanyBloomfield State Bank 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. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bloomfield State Bank, out of Bloomfield, Indiana. The loan was granted and they received $100,000 to help grow their Indianapolis, Indiana business. SBA Loan Borrower COMPANY TYPE: MINING MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender BLOOMFIELD STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333131 - Mining Machinery and Equipment Manufacturing Loan Approval Date 2/1/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $75,000. 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 31 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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: SBA Participating Banks in Bloomfield, Indiana
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