SBA Loans for Hardware Stores

With these SBA loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $580,000 was given to an Indiana entrepreneur in 2005.

Getting a small business loan in Jasper, Indiana was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from German American Bancorp, operating out of Jasper, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
JASPER, IN 47546

SBA Loan Lender

GERMAN AMERICAN BANCORP
711 MAIN ST
JASPER, IN 47546

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

10/28/2005

Loan Approval Gross Amount

$580,000

Loan Approval from the SBA

Of the total $580,000 loan amount, the SBA guaranteed $435,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

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

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