SBA Loan from Peoples Bank Sb Helps Fabricated Structural Metal Company

Peoples Bank Sb has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gary, Indiana was able to borrow $75,000 from Peoples Bank Sb. The SBA made the loan possible by guaranteeing $63,750 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED STRUCTURAL METAL
GARY, IN 46462

SBA Loan Lender

PEOPLES BANK SB
9204 COLUMBIA AVE, BLDG B
MUNSTER, IN 46321

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3441 - Fabricated Structural Metal

NAICS Code

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

11/29/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 10 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Peoples Bank Sb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Peoples Bank Sb made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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