How to Get a Loan for Limousine Service

Looking for commercial loans for limousine service? An SBA loan may be just what you've been looking for. This $56,000 limousine service loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kokomo, Indiana was able to borrow $56,000 from Community 1st Bank - Howard Cnty. The SBA made the loan possible by guaranteeing $47,600 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMOUSINE SERVICE
KOKOMO, IN 46901

SBA Loan Lender

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

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485320 - Limousine Service

Loan Approval Date

6/1/2004

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $47,600.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Community 1st Bank - Howard Cnty so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Kokomo, Indiana

Getting an SBA Loan in Indiana