Star Financial Bank Gives Bank Loan to Mushroom Production Company

Bank loans in Indiana are hard to find these days. We take a look at one Indiana bank loan, provided by an Indiana bank, that was approved by the SBA.

You can learn something about getting a small business loan in Marion, Indiana by studying this loan to a local company, made back in 2007. Banks like Star Financial Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSHROOM PRODUCTION
MARION, IN 46953

SBA Loan Lender

STAR FINANCIAL BANK
127 W BERRY ST
FORT WAYNE, IN 46802

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

111411 - Mushroom Production

Loan Approval Date

11/14/2007

Loan Approval Gross Amount

$13,400

Loan Approval from the SBA

Of the total $13,400 loan amount, the SBA guaranteed $11,390.

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 2 employees. The SBA loan documents indicated that the borrowed money would help generate 2 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 $13,400 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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