South Bend, Indiana Bank Lends Money to Sewing, Needlework, And Piece Goods Stores Company in Fort Wayne, Indiana

Get to know South Bend, Indiana banks that specialize in SBA loans and know how to work with entrepreneurs. 1st Source Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Fort Wayne, Indiana starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from 1st Source Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES
FORT WAYNE, IN 46805

SBA Loan Lender

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

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

11/28/2007

Loan Approval Gross Amount

$51,400

Loan Approval from the SBA

Of the total $51,400 loan amount, the SBA guaranteed $25,700.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st Source Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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