Indiana Business Loan Issued to Wood Pallets And Skids Company

Searching for an Indiana business loan? This Indiana entrepreneur got a business loan, provided by an Indiana bank that works with the SBA to help small business owners.

This business, based in East Chicago, 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 Harris National Association. We've got the inside scoop on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD PALLETS AND SKIDS
EAST CHICAGO, IN 46312

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
27 E SIBLEY ST
HAMMOND, IN 46320

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2448 - Wood Pallets and Skids

NAICS Code

321920 - Wood Container and Pallet Manufacturing

Loan Approval Date

9/26/2003

Loan Approval Gross Amount

$172,500

Loan Approval from the SBA

Of the total $172,500 loan amount, the SBA guaranteed $129,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 35 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours 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:

Find Start-Up Capital

Best Banks in Hammond, Indiana

SBA Lenders in Indiana