Indiana Bank Loan Issued to Lessors Of Residential Buildingsv And Dwellings Company

Business loans in Indiana are are few and far betweeen these days. We take a look at one Indiana business loan, provided by an Indiana bank, that was approved by the SBA.

This small business, based in Crawfordsville, Indiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Farmers State Bank. We've got the inside scoop on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF RESIDENTIAL BUILDINGSV AND DWELLINGS
CRAWFORDSVILLE, IN 47933

SBA Loan Lender

FARMERS STATE BANK
1661 US 231 SOUTH
CRAWFORDSVILLE, IN 47933

This lender issued this SBA small 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 began in 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

531110 - Lessors of Residential Buildingsv and Dwellings

Loan Approval Date

3/30/2006

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Farmers State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Role of Business Plan When Raising Money

SBA Approved Banks in Crawfordsville, Indiana

Where to Get an SBA Loan Indiana