Kokomo, Indiana Lender Lends Money to Commercial Laundry And Drycleaning Equipment Company

Get to know Kokomo, Indiana banks that specialize in business loans and know how to work with entrepreneurs. Community 1st Bank - Howard Cnty is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Kokomo, Indiana starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Community 1st Bank - Howard Cnty. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT
KOKOMO, IN 46902

SBA Loan Lender

COMMUNITY 1ST BANK - HOWARD CNTY
201 W SYCAMORE ST
KOKOMO, IN 46901

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3582 - Commercial Laundry and Drycleaning Equipment

NAICS Code

333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Loan Approval Date

7/8/2002

Loan Approval Gross Amount

$99,560

Loan Approval from the SBA

Of the total $99,560 loan amount, the SBA guaranteed $84,626.

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 5 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Kokomo IN, you ought to talk with a local Kokomo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kokomo businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community 1st Bank - Howard Cnty had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community 1st Bank - Howard Cnty 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.

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