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May 19, 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 > Insurance Agents And Brokers Loan | ||||
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1st Source Bank Commercial Loans
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Raising Money for Claims AdjustingWith these business loans for claims adjusting, the SBA guarantees the lender that the loan will be repaid. This claims adjusting loan for $80,000 was given to an Indiana entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Plymouth, Indiana was able to borrow $80,000 from 1st Source Bank. The SBA made the loan possible by guaranteeing $68,000 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS SBA Loan Lender 1ST SOURCE BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6411 - Insurance Agents and Brokers NAICS Code 524291 - Claims Adjusting Loan Approval Date 8/8/2003 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from 1st Source Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Who Lends Money to Small Businesses in South Bend, Indiana
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