Indiana Business Loan Issued to Asphalt Paving Mixture And Block Manufacturing Company
SBA loans in Indiana are tough to come by these days. We take a look at one Indiana SBA loan, provided by a Virginia bank, that was approved by the SBA.
This company, based in Lafayette, Indiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital One Bank (usa). We've got the inside scoop on this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: ASPHALT PAVING MIXTURE AND BLOCK MANUFACTURING
LAFAYETTE, IN 47909
SBA Loan Lender
CAPITAL ONE BANK (USA)
4851 COX RD
GLEN ALLEN, VA 23060
This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
324121 - Asphalt Paving Mixture and Block Manufacturing
Loan Approval Date
7/19/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 30 employees. This SBA loan request indicated that the loan would help retain 30 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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