How to Get a Loan for Amusement Arcades

Looking for business loans for amusement arcades? The SBA may be the answer. This $56,500 amusement arcades loan was issued by an Indiana bank.

Getting a small business loan in Chesterton, Indiana was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Of Porter, operating out of Porter, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
CHESTERTON, IN 46304

SBA Loan Lender

FIRST STATE BANK OF PORTER
230 LINCOLN ST
PORTER, IN 46304

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

10/18/2006

Loan Approval Gross Amount

$56,500

Loan Approval from the SBA

Of the total $56,500 loan amount, the SBA guaranteed $45,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First State Bank Of Porter that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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