Company Gets an Indiana Small Business Loan

IndianaSBA loans are available to Indiana entrepreneurs through the SBA. In this case, an Indiana bank provides the loan.

This company, based in Anderson, Indiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Star Financial Bank. We've got the inside scoop on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: COSMETOLOGY AND BARBER SCHOOLS
ANDERSON, IN 46015

SBA Loan Lender

STAR FINANCIAL BANK
127 W BERRY ST
FORT WAYNE, IN 46802

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

611511 - Cosmetology and Barber Schools

Loan Approval Date

2/3/2006

Loan Approval Gross Amount

$118,800

Loan Approval from the SBA

Of the total $118,800 loan amount, the SBA guaranteed $59,400.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents indicated that the loan would help retain 30 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

SBIR Funding

SBA 7A Lenders in Fort Wayne, Indiana

Indiana SBA Banks