Irwin Union Bank & Trust Gives Bank Loan to Freight Transportation Arrangement Company
Looking to get an Indiana small business loan? This Indiana entrepreneur got a small business loan, provided by an Indiana bank that works with the SBA to help small business owners.
This company, based in Indianapolis, Indiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Irwin Union Bank & Trust. We've got the inside scoop on this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
INDIANAPOLIS, IN 46241
SBA Loan Lender
IRWIN UNION BANK & TRUST
500 WASHINGTON ST
COLUMBUS, IN 47201
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
488510 - Freight Transportation Arrangement
Loan Approval Date
11/20/2007
Loan Approval Gross Amount
$75,000
Loan Approval from the SBA
Of the total $75,000 loan amount, the SBA guaranteed $37,500.
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 47 employees. The SBA loan documents indicated that the loan would help generate 75 new jobs and retain 5 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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