SBA Loan from Goshen Community Bank Helps Eating Places Company

An SBA loan from Goshen Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Goshen, Indiana business owner got a $30,745 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Goshen, Indiana was able to borrow $30,745 from Goshen Community Bank. The SBA made the loan possible by guaranteeing $26,133 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
GOSHEN, IN 46528

SBA Loan Lender

GOSHEN COMMUNITY BANK
511 W LINCOLN AVE
GOSHEN, IN 46526

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$30,745

Loan Approval from the SBA

Of the total $30,745 loan amount, the SBA guaranteed $26,133.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Goshen Community 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.

Related Links:

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Banks in Goshen, Indiana

Getting an SBA Loan in Indiana