Entrepreneur Works With Kokomo, Indiana Bank to Get an SBA Loan

Get SBA loans from a Kokomo, Indiana bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Salin Bank & Trust Company is a Kokomo, Indiana small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Indiana company.

SBA Loan Borrower

COMPANY TYPE: MOTORS AND GENERATORS
KOKOMO, IN 46901

SBA Loan Lender

SALIN BANK & TRUST COMPANY
112 S WASHINGTON ST
KOKOMO, IN 46901

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3621 - Motors and Generators

NAICS Code

335312 - Motor and Generator Manufacturing

Loan Approval Date

8/27/2002

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Choosing VC Firms

SBA Approved Banks in Kokomo, Indiana

Indiana SBA 7A Banks