Kokomo, Indiana Bank Gives SBA Loan to Limited-Service Restaurants Company

Thinking about meeting with a Kokomo, Indiana bank about a small business loan? Here's one Indiana business loan, issued by a Kokomo bank, that was approved by the SBA.

Applying for an SBA loan with Harris National Association worked out well for our friends at one local firm in Galveston, Indiana. The business was able to get an SBA loan for $50,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
GALVESTON, IN 46932

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
101 W SYCAMORE ST
KOKOMO, IN 46904

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/9/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Harris National Association 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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SBIR Funding

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