Where to Get Capital for Fabricated Metal Product Manufacturing
With these SBA loans for fabricated metal product manufacturing, the SBA guarantees the lender that the loan will be repaid. This fabricated metal product manufacturing loan for $75,000 was given to an Indiana entrepreneur in 2002.
Getting a small business loan in Portage, Indiana was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st Source Bank, operating out of Portage, Indiana. Here are the details on this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: VALVES AND PIPE FITTINGS
PORTAGE, IN 46368
SBA Loan Lender
1ST SOURCE BANK
3395 WILLOWCREEK RD
PORTAGE, IN 46368
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
3494 - Valves and Pipe Fittings
NAICS Code
332999 - Fabricated Metal Product Manufacturing
Loan Approval Date
7/30/2002
Loan Approval Gross Amount
$75,000
Loan Approval from the SBA
Of the total $75,000 loan amount, the SBA guaranteed $63,750.
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 4 employees. The SBA loan documents did not indicate that the business 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.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st Source Bank and they will explain how you can get an SBA loan for your company.
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:
Accountant's Role in Securing Financing
SBA 7A Banks in Portage, Indiana
Browse All Business Loan Sources for Indiana