Business Loan from State Bank Of Lizton Given to Speed Changer, Industrial High-Speed Drive, And Gear Manufacturing Company

State Bank Of Lizton has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Brownsburg, Indiana, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was State Bank Of Lizton, based in Lizton, Indiana.

SBA Loan Borrower

COMPANY TYPE: SPEED CHANGER, INDUSTRIAL HIGH-SPEED DRIVE, AND GEAR MANUFACTURING
BROWNSBURG, IN 46112

SBA Loan Lender

STATE BANK OF LIZTON
206 N STATE ST
LIZTON, IN 46149

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333612 - Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing

Loan Approval Date

3/7/2007

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Attracting Investors

Small Business Banks in Lizton, Indiana

Indiana SBA 7A Lenders