Borrowing Money for Special Trade Contractors

With these bank loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $53,600 was given to an Indiana entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lebanon, Indiana was able to borrow $53,600 from National City Bank. The SBA made the loan possible by guaranteeing $45,560 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
LEBANON, IN 46052

SBA Loan Lender

NATIONAL CITY BANK
ONE NATIONAL CITY CENTER, STE
INDIANAPOLIS, IN 46255

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring 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

1799 - Special Trade Contractors

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

1/27/2003

Loan Approval Gross Amount

$53,600

Loan Approval from the SBA

Of the total $53,600 loan amount, the SBA guaranteed $45,560.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Lebanon IN, you ought to talk with a local Lebanon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lebanon businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.

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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