Huntington, Indiana Lender Lends Money to Metal Valve And Pipe Fitting Manufacturing Company

Get to know Huntington, Indiana banks that specialize in business loans and know how to work with entrepreneurs. First Federal Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Huntington, Indiana starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First Federal Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: METAL VALVE AND PIPE FITTING MANUFACTURING
HUNTINGTON, IN 46750

SBA Loan Lender

FIRST FEDERAL SAVINGS BANK
648 N JEFFERSON ST
HUNTINGTON, IN 46750

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332919 - Metal Valve and Pipe Fitting Manufacturing

Loan Approval Date

2/12/2008

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 First Federal Savings 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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Good Banks for Small Business in Huntington, Indiana

Getting an SBA Loan in Indiana