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November 21, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Champaign, Business Loans > Busey Bank Champaign Business Loans > Furniture Stores Loan | ||||
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Busey Bank Carmel
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SBA Loan from Busey Bank Helps Furniture Stores CompanyAn SBA loan from Busey Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Carmel, Indiana business owner got a $202,500 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carmel, Indiana was able to borrow $202,500 from Busey Bank. The SBA made the loan possible by guaranteeing $151,875 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender BUSEY BANK 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. SIC Code 5712 - Furniture Stores Loan Approval Date 3/3/2000 Loan Approval Gross Amount $202,500 Loan Approval from the SBA Of the total $202,500 loan amount, the SBA guaranteed $151,875. 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Busey Bank and they will explain how you can get an SBA loan for your company. 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: The Friends and Family Network Best Banks in Champaign, Illinois
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