Commercial Loans for Textile and Fabric Finishing Mills

Looking for commercial loans for textile and fabric finishing mills? Talk to a banker who works with the SBA. This $75,000 textile and fabric finishing mills loan was issued by an Indiana bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with National City Bank, out of Indianapolis, Indiana. The loan was granted and they received $75,000 to help grow their Greenfield, Indiana business.

SBA Loan Borrower

COMPANY TYPE: TEXTILE GOODS
GREENFIELD, IN 46140

SBA Loan Lender

NATIONAL CITY BANK
ONE NATIONAL CITY CENTER, STE
INDIANAPOLIS, IN 46255

This lender issued this particular business loan 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.

SIC Code

2299 - Textile Goods

NAICS Code

313312 - Textile and Fabric Finishing Mills

Loan Approval Date

7/24/2002

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 a new 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 2 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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.

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 National City Bank 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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