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December 21, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Fishers, Business Loans > Forum Cu Fishers Business Loans > Business Services Loan | ||||
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Getting SBA Loans from Forum Cu
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Greenwood, Indiana Business Gets SBA-Guaranteed Funding from Forum CuForum Cu has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Forum Cu, out of Fishers, Indiana. The loan was granted and they received $40,000 to help grow their Greenwood, Indiana business. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender FORUM CU This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services NAICS Code 541410 - Interior Design Services Loan Approval Date 2/3/2003 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Forum Cu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Forum Cu 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. Related Links: Microlending as a Small Business Funding Source Where to Get an SBA Loan Indiana
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