First Farmers Bank And Trust SBA Loan to Caterers Company

First Farmers Bank And Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how an Indiana entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Marion, Indiana was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Farmers Bank And Trust, operating out of Converse, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
MARION, IN 46953

SBA Loan Lender

FIRST FARMERS BANK AND TRUST
123 N JEFFERSON
CONVERSE, IN 46919

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722320 - Caterers

Loan Approval Date

3/17/2006

Loan Approval Gross Amount

$589,200

Loan Approval from the SBA

Of the total $589,200 loan amount, the SBA guaranteed $441,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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 $589,200 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.

Related Links:

Obtaining Funding - Friends and Family

Good Banks for Small Business in Converse, Indiana

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