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May 14, 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 > General Line Grocery Merchant Wholesalers Loan | ||||
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How Hard Is It to Get a Small Business Loan in Mishawaka, Indiana?
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Bank Loans for General Line Grocery Merchant WholesalersWith these bank loans for general line grocery merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This general line grocery merchant wholesalers loan for $193,000 was given to an Indiana entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mishawaka, Indiana was able to borrow $193,000 from 1st Source Bank. The SBA made the loan possible by guaranteeing $144,750 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LINE GROCERY MERCHANT WHOLESALERS SBA Loan Lender 1ST SOURCE BANK This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424410 - General Line Grocery Merchant Wholesalers Loan Approval Date 5/22/2006 Loan Approval Gross Amount $193,000 Loan Approval from the SBA Of the total $193,000 loan amount, the SBA guaranteed $144,750. 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 4 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours 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 South Bend, Indiana
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