Kokomo, Indiana Bank Lends Money to Motor Vehicle Dealers Company in Frankfort, Indiana

Get to know Kokomo, Indiana banks that specialize in business loans and know how to work with entrepreneurs. Harris National Association is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
FRANKFORT, IN 46041

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
101 W SYCAMORE ST
KOKOMO, IN 46904

This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

10/27/2000

Loan Approval Gross Amount

$225,250

Loan Approval from the SBA

Of the total $225,250 loan amount, the SBA guaranteed $168,938.

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 did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, 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.

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