Louisville, Kentucky Business Gets SBA-Guaranteed Funding from Irwin Union Bank, F.S.B.

Irwin Union Bank, F.S.B. has a track record as a leading provider of SBA loans. Find out how this Kentucky entrepreneur received an SBA loan from them.

Getting a small business loan in Louisville, Kentucky was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Irwin Union Bank, F.S.B., operating out of Columbus, Indiana. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
LOUISVILLE, KY 40241

SBA Loan Lender

IRWIN UNION BANK, F.S.B.
500 WASHINGTON ST
COLUMBUS, IN 47202

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

333512 - Machine Tool Manufacturing

Loan Approval Date

2/8/2005

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $52,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

VC Firms on Twitter

SBA 7A Banks for Columbus, Indiana Loans

SBA Participating Banks in Indiana