Bloomfield State Bank Gives Business Loan to Specialty Trade Contractors Company

Would an Indiana small business loan help your small business to grow and prosper? If so, you may want to talk with this Indiana bank, which offers SBA loans to Indiana entrepreneurs.

Getting a small business loan in Indianapolis, Indiana was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bloomfield State Bank. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
INDIANAPOLIS, IN 46268

SBA Loan Lender

BLOOMFIELD STATE BANK
48 N WASHINGTON
BLOOMFIELD, IN 47424

This lender issued this SBA business loan 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

238990 - Specialty Trade Contractors

Loan Approval Date

5/6/2005

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

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 20 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bloomfield State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bloomfield State Bank 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:

Financing Your Business

Small Bank Loans in Bloomfield, Indiana

Getting an SBA Loan in Indiana