1st Source Bank Gives Bank Loan to Equipment Rental And Leasing Company

Bank loans in Indiana are tough to come by 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 Mishawaka, Indiana by studying this loan to a local company, made back in 2004. Banks like 1st Source Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
MISHAWAKA, IN 46545

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7359 - Equipment Rental and Leasing

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

4/30/2004

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Mishawaka IN, you ought to talk with a local Mishawaka SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mishawaka businesses.

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.

Related Links:

Dealing With Venture Capitalists

SBA Banks in South Bend, Indiana

SBA Indiana Banks