Batesville, Indiana Business Gets SBA-Guaranteed Funding from The Friendship State Bank

An SBA loan from The Friendship State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Batesville, Indiana business owner got a $145,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Batesville, Indiana was able to borrow $145,000 from The Friendship State Bank. The SBA made the loan possible by guaranteeing $123,250 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
BATESVILLE, IN 47006

SBA Loan Lender

THE FRIENDSHIP STATE BANK
5908 E MAIN ST, STATE RTE 62
FRIENDSHIP, IN 47021

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453110 - Florists

Loan Approval Date

5/7/2004

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The SBA loan documents did not indicate that the company promised 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?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $145,000 loan. Remember, anyone can do it... so why not you?

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:

Debt Financing

SBA Approved Banks in Friendship, Indiana

SBA Participating Banks in Indiana