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April 26, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Highland, Business Loans > First Midwest Bank Highland Business Loans > Kilwin's Chocolates And Ice Cr Loan | ||||
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Schereville, Indiana Bank for SBA Loans
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Indiana Entrepreneur Secures Financing to Buy Hampton Inns FranchiseBorrowing money to invest in a Hampton Inns franchise? First Midwest Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Schereville, Indiana needed money to invest in a Hampton Inns franchise back in 2005. First Midwest Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan. SBA Loan Borrower KILWIN'S CHOCOLATES AND ICE CR SBA Loan Lender FIRST MIDWEST BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 10/26/2005 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Hampton Inns franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Midwest Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Hampton Inn/Hampton Inn & Suites Find an SBA Lender in Highland, Indiana
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