Power, Distribution, and Specialty Transformer Manufacturing Small Business Loans

With these small business loans for power, distribution, and specialty transformer manufacturing, the SBA guarantees the lender that the loan will be repaid. This power, distribution, and specialty transformer manufacturing loan for $600,000 was given to an Indiana entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Kokomo, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Salin Bank & Trust Company, based in Kokomo, Indiana.

SBA Loan Borrower

COMPANY TYPE: POWER, DISTRIBUTION, AND SPECIALTY TRANSFORMER MANUFACTURING
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's 7A loan, 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.

NAICS Code

335311 - Power, Distribution, and Specialty Transformer Manufacturing

Loan Approval Date

9/26/2005

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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the SBA funding recipient 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Salin Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Salin Bank & Trust Company 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.

Related Links:

Strategic Investors

Where to Get an SBA Loan in Kokomo, Indiana

SBA Indiana Lenders