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May 17, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Equipment Rental And Leasing Loan | ||||
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Get an SBA 7A Loan in Mishawaka, Indiana
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Firm Gets an Indiana Bank LoanIndianaSmall business loans are available to Indiana small business owners through the SBA. In this case, an Indiana bank provides the loan. Getting a small business loan in Mishawaka, Indiana was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from 1st Source Bank. Here are the details on this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: EQUIPMENT RENTAL AND LEASING SBA Loan Lender 1ST SOURCE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7359 - Equipment Rental and Leasing NAICS Code 532299 - Consumer Goods Rental Loan Approval Date 1/9/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 - Getting Venture Capital Who Lends Money to Small Businesses in South Bend, Indiana
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