Demotte, Indiana Entrepreneur Gets an SBA Loan

Would an Indiana business loan help your company expand? If so, you may want to talk with this Indiana bank, which offers SBA loans to Indiana entrepreneurs.

This company, based in Demotte, 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 Centier Bank. We've got the inside scoop on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: PUBLIC GOLF COURSES
DEMOTTE, IN 46310

SBA Loan Lender

CENTIER BANK
1500 119TH ST
WHITING, IN 46394

When it made this small business loan, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7992 - Public Golf Courses

NAICS Code

713910 - Golf Courses and Country Clubs

Loan Approval Date

3/14/2000

Loan Approval Gross Amount

$1,175,000

Loan Approval from the SBA

Of the total $1,175,000 loan amount, the SBA guaranteed $749,885.

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 7 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Angel Investors

SBA 7A Banks in Whiting, Indiana

Indiana SBA Banks