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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 > Linen Supply Loan | ||||
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Irwin Union Bank & Trust
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Business Loan from Irwin Union Bank & Trust Given to Linen Supply 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 $1,333,300 loan. This growing company knew how to go about getting a business bank loan. Based in Louisville, Kentucky, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Irwin Union Bank & Trust, based in Traverse City, Michigan. SBA Loan Borrower COMPANY TYPE: LINEN SUPPLY 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 commercial 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 7213 - Linen Supply NAICS Code 812331 - Linen Supply Loan Approval Date 6/20/2003 Loan Approval Gross Amount $1,333,300 Loan Approval from the SBA Of the total $1,333,300 loan amount, the SBA guaranteed $999,975. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 90 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Irwin Union Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding From a Venture Capitalist Best Banks in Traverse City, Michigan
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