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November 15, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Louisville, Business Loans > Stock Yards Bank & Trust Louisville Business Loans > Electronic Components Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Raising Money for Electronic Component ManufacturingWith these bank loans for electronic component manufacturing, the SBA guarantees the lender that the loan will be repaid. This electronic component manufacturing loan for $250,000 was given to an Indiana entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greenville, Indiana was able to borrow $250,000 from Stock Yards Bank & Trust. The SBA made the loan possible by guaranteeing $142,500 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC COMPONENTS SBA Loan Lender STOCK YARDS BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3679 - Electronic Components NAICS Code 334419 - Electronic Component Manufacturing Loan Approval Date 8/22/2000 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $142,500. 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 77 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Stock Yards Bank & Trust 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. Related Links: SBA 7A Lenders in Louisville, Kentucky
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