SBA Loan from 1st Source Bank Helps Janitorial Services Company

An SBA loan from 1st Source Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Elkhart, Indiana business owner got a $92,600 loan.

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 $92,600 to help grow their Elkhart, Indiana business.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
ELKHART, IN 46514

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

561720 - Janitorial Services

Loan Approval Date

12/5/2007

Loan Approval Gross Amount

$92,600

Loan Approval from the SBA

Of the total $92,600 loan amount, the SBA guaranteed $46,300.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

If you need business start up money in Elkhart IN, you ought to talk with a local Elkhart SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Elkhart businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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