Borrowing Money for Scale and Balance Manufacturing

Looking for bank loans for scale and balance manufacturing? Try the SBA. This $562,800 scale and balance manufacturing loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Evansville, Indiana was able to borrow $562,800 from German American Bancorp. The SBA made the loan possible by guaranteeing $422,100 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SCALE AND BALANCE MANUFACTURING
EVANSVILLE, IN 47711

SBA Loan Lender

GERMAN AMERICAN BANCORP
711 MAIN ST
JASPER, IN 47546

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333997 - Scale and Balance Manufacturing

Loan Approval Date

3/31/2006

Loan Approval Gross Amount

$562,800

Loan Approval from the SBA

Of the total $562,800 loan amount, the SBA guaranteed $422,100.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

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

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. German American Bancorp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, German American Bancorp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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