Business Loan from Farmers State Bank Given to Furniture Stores Company

An SBA loan from Farmers State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Crawfordsville, Indiana business owner got a $100,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Crawfordsville, Indiana, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Farmers State Bank, based in New Ross, Indiana.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
CRAWFORDSVILLE, IN 47933

SBA Loan Lender

FARMERS STATE BANK
100 N MAIN ST
NEW ROSS, IN 47968

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

1/19/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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