First Farmers Bank And Trust Provides SBA Loan to Buy Pickerman's Franchise

Borrowing money to buy a Pickerman's franchise? First Farmers Bank And Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Kokomo, Indiana needed money to invest in a Pickerman's franchise back in 2002. First Farmers Bank And Trust issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

JK-HAC, INC
KOKOMO, IN 46902

SBA Loan Lender

FIRST FARMERS BANK AND TRUST
410 FLINT WAY DR
KOKOMO, IN 46904

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/13/2002

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pickerman's franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the small 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!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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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