How to Get a Loan for Plastics Product Manufacturing

Looking for commercial loans for plastics product manufacturing? Talk to a banker who works with the SBA. This $540,000 plastics product manufacturing loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atwood, Indiana was able to borrow $540,000 from Lake City Bank. The SBA made the loan possible by guaranteeing $405,000 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCTS
ATWOOD, IN 46502

SBA Loan Lender

LAKE CITY BANK
102 N MAIN ST
GOSHEN, IN 46526

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3089 - Plastics Products

NAICS Code

326199 - Plastics Product Manufacturing

Loan Approval Date

7/28/2003

Loan Approval Gross Amount

$540,000

Loan Approval from the SBA

Of the total $540,000 loan amount, the SBA guaranteed $405,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Atwood IN, you ought to talk with a local Atwood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Atwood businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lake City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Bank Credit Lines

SBA Approved Banks in Goshen, Indiana

Where to Get an SBA Loan Indiana