Greencastle, Indiana Business Gets SBA-Guaranteed Funding from North Salem State Bank

North Salem State Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Indiana entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Greencastle, Indiana was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from North Salem State Bank, operating out of North Salem, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
GREENCASTLE, IN 46135

SBA Loan Lender

NORTH SALEM STATE BANK
7 N BROADWAY ST
NORTH SALEM, IN 46165

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

8711 - Engineering Services

NAICS Code

541330 - Engineering Services

Loan Approval Date

3/14/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 8 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Microlending as a Small Business Funding Source

Good Banks for Small Business in North Salem, Indiana

SBA Participating Banks in Indiana