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May 19, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Portage, Business Loans > Harris National Association Portage Business Loans > Detective, Guard, And Armored Car Services Loan | ||||
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Indiana Bank SBA Loans
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Harris National Association SBA Loan to Detective, Guard, And Armored Car Services CompanyLooking to get an Indiana small business loan? Here's one Indiana business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portage, Indiana was able to borrow $33,000 from Harris National Association. The SBA made the loan possible by guaranteeing $26,400 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: DETECTIVE, GUARD, AND ARMORED CAR SERVICES SBA Loan Lender HARRIS NATIONAL ASSOCIATION This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . 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 7381 - Detective, Guard, and Armored Car Services Loan Approval Date 8/25/2000 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $26,400. 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 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to raise money for a business in Portage IN, you ought to talk with a local Portage SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portage businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Business Banks in Portage, Indiana
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