How to Get a Loan for Document Preparation Services

Looking for business loans for document preparation services? An SBA loan may be just what you've been looking for. This $70,000 document preparation services loan was issued by an Indiana bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Centra Cu, out of Columbus, Indiana. The loan was granted and they received $70,000 to help grow their Columbus, Indiana business.

SBA Loan Borrower

COMPANY TYPE: DOCUMENT PREPARATION SERVICES
COLUMBUS, IN 47201

SBA Loan Lender

CENTRA CU
1430 NATIONAL RD
COLUMBUS, IN 47201

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561410 - Document Preparation Services

Loan Approval Date

8/9/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Centra Cu 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.

Related Links:

Find Start-Up Capital

SBA Banks in Columbus, Indiana

Indiana SBA 7A Lenders