German American Bancorp Gives SBA Loan to Full-Service Restaurants Company

IndianaBusiness loans are available to Indiana business owners through the SBA. In this case, an Indiana bank provides the loan.

Getting a small business loan in Loogootee, Indiana was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from German American Bancorp. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LOOGOOTEE, IN 47553

SBA Loan Lender

GERMAN AMERICAN BANCORP
645 MAIN ST
TELL CITY, IN 47586

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722110 - Full-Service Restaurants

Loan Approval Date

4/16/2007

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 32 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into German American Bancorp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Tell City, Indiana

Getting an SBA Loan in Indiana