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December 22, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Fort Wayne, Business Loans > Tower Bank & Trust Company Fort Wayne Business Loans > Eating Places Loan | ||||
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Fort Wayne Bank Loan
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Entrepreneur Works With Fort Wayne, Indiana Bank to Get an SBA LoanThinking about meeting with a Fort Wayne, Indiana bank about a small business loan? Here's one Indiana business loan, issued by a Fort Wayne bank, that was approved by the SBA. Applying for an SBA loan with Tower Bank & Trust Company worked out well for our friends at one local firm in Fort Wayne, Indiana. They got an SBA loan for $97,000. Awesome! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender TOWER BANK & TRUST COMPANY This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/7/2002 Loan Approval Gross Amount $97,000 Loan Approval from the SBA Of the total $97,000 loan amount, the SBA guaranteed $82,450. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding. 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: Obtaining Funding - How to Decide How Much to Raise SBA 7A Banks in Fort Wayne, Indiana
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