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May 18, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > New Castle, Business Loans > Star Financial Bank New Castle Business Loans > Drug Stores And Proprietary Stores Loan | ||||
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New Castle, Indiana Bank Loan
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Where to Get Capital for Pharmacies and Drug StoresLooking for small business loans for pharmacies and drug stores? Talk to a banker who works with the SBA. This $128,000 pharmacies and drug stores loan was issued by an Indiana bank. This company knew how to go about getting a business bank loan. Based in New Castle, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Star Financial Bank, based in New Castle, Indiana. SBA Loan Borrower COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES SBA Loan Lender STAR FINANCIAL BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5912 - Drug Stores and Proprietary Stores NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 4/30/2002 Loan Approval Gross Amount $128,000 Loan Approval from the SBA Of the total $128,000 loan amount, the SBA guaranteed $108,800. More Information on This SBA Loan The borrower borrowed this money for an existing 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 8 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. 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: SBA 7A Banks for New Castle, Indiana Loans
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