SBA Loan from 1st Source Bank Helps Recreational Vehicle Dealers Company

1st Source Bank has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with 1st Source Bank, out of South Bend, Indiana. The loan was granted and they received $461,200 to help grow their Decatur, Indiana business.

SBA Loan Borrower

COMPANY TYPE: RECREATIONAL VEHICLE DEALERS
DECATUR, IN 46733

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441210 - Recreational Vehicle Dealers

Loan Approval Date

2/27/2007

Loan Approval Gross Amount

$461,200

Loan Approval from the SBA

Of the total $461,200 loan amount, the SBA guaranteed $345,900.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 15 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

SBIR Funding

SBA Banks in South Bend, Indiana

Getting an SBA Loan in Indiana