Cloverdale, Indiana Business Gets SBA-Guaranteed Funding from First National Bank

First National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Indiana entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Cloverdale, Indiana was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First National Bank, operating out of Cloverdale, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORICULTURE PRODUCTION
CLOVERDALE, IN 46120

SBA Loan Lender

FIRST NATIONAL BANK
302 S MAIN ST
CLOVERDALE, IN 46120

This lender issued this business loan under the SBA's 7(a) guaranteed loan 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

111422 - Floriculture Production

Loan Approval Date

12/19/2007

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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