Indiana Business Loan Issued to Family Clothing Stores Company

Would an Indiana SBA loan help your business get to the next level? If so, you may want to talk with this Indiana bank, which offers SBA loans to Indiana entrepreneurs.

Getting a small business loan in Michigan City, Indiana was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
MICHIGAN CITY, IN 46360

SBA Loan Lender

FIFTH THIRD BANK
251 N ILLINOIS ST
INDIANAPOLIS, IN 46204

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

2/27/2001

Loan Approval Gross Amount

$12,000

Loan Approval from the SBA

Of the total $12,000 loan amount, the SBA guaranteed $10,200.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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