Entrepreneur Works With Bloomington, Indiana Bank to Get an SBA Loan

Want to talk with a Bloomington, Indiana bank about a small business loan? Here's one Indiana business loan, issued by a Bloomington bank, that was approved by the SBA.

Applying for an SBA loan with Fifth Third Bank worked out well for our friends at one local business in Bloomington, Indiana. They got an SBA loan for $34,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
BLOOMINGTON, IN 47403

SBA Loan Lender

FIFTH THIRD BANK
200 S WASHINGTON ST
BLOOMINGTON, IN 47401

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/17/2000

Loan Approval Gross Amount

$34,000

Loan Approval from the SBA

Of the total $34,000 loan amount, the SBA guaranteed $27,200.

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 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 $34,000 loan. Remember, where there is a will, there is a way!

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.

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