Indiana Bank Loan Issued to Supermarkets And Grocery Stores Company

Looking to get an Indiana small business loan? This Indiana entrepreneur got a small business loan, provided by an Indiana bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Carmel, Indiana by studying this loan to a local company, made back in 2005. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
CARMEL, IN 46032

SBA Loan Lender

FIFTH THIRD BANK
251 N ILLINOIS ST
INDIANAPOLIS, IN 46204

This lender issued this particular commercial 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.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

3/15/2005

Loan Approval Gross Amount

$94,000

Loan Approval from the SBA

Of the total $94,000 loan amount, the SBA guaranteed $79,900.

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 application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Carmel IN, you ought to talk with a local Carmel SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Carmel businesses.

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.

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