Star Financial Bank SBA Loan to Beauty Shops Company

Searching for an Indiana SBA loan? Here's one Indiana business loan that was approved by the SBA.

This growing firm needed an SBA business loan in Kokomo, Indiana back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Star Financial Bank, operating out of Kokomo, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
KOKOMO, IN 46902

SBA Loan Lender

STAR FINANCIAL BANK
114 E WALNUT
KOKOMO, IN 46901

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$47,000

Loan Approval from the SBA

Of the total $47,000 loan amount, the SBA guaranteed $37,600.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Small Business Credit Cards

SBA Approved Banks in Kokomo, Indiana

Getting an SBA Loan in Indiana