Personal Services Commercial Loans

With these commercial loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $100,000 was given to an Indiana entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Franklin, Indiana was able to borrow $100,000 from Lincoln Bank. The SBA made the loan possible by guaranteeing $85,000 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
FRANKLIN, IN 46131

SBA Loan Lender

LINCOLN BANK
2259 N MORTON
FRANKLIN, IN 46131

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Franklin IN, you ought to talk with a local Franklin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Franklin businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lincoln Bank and they will explain how you can get an SBA loan for your company.

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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