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April 27, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Traverse City, Business Loans > Irwin Union Bank & Trust Traverse City Business Loans > Employment Agencies Loan | ||||
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KY Business Loans from Irwin Union Bank & Trust
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Business Loan from Irwin Union Bank & Trust Given to Employment Agencies CompanyAn SBA loan from Irwin Union Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Louisville, Kentucky business owner got a $50,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Louisville, Kentucky was able to borrow $50,000 from Irwin Union Bank & Trust. The SBA made the loan possible by guaranteeing $42,500 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: EMPLOYMENT AGENCIES SBA Loan Lender IRWIN UNION BANK & TRUST The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7361 - Employment Agencies NAICS Code 541612 - Human Resources Consulting Services Loan Approval Date 2/14/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Irwin Union Bank & Trust and they will explain how you can get an SBA loan for your company. 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: Microlending as a Small Business Funding Source SBA Approved Banks in Traverse City, Michigan
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