Mishawaka, Indiana Business Gets SBA-Guaranteed Funding from 1st Source Bank

An SBA loan from 1st Source Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mishawaka, Indiana business owner got a $26,200 loan.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with 1st Source Bank, out of South Bend, Indiana. The loan was granted and they received $26,200 to help grow their Mishawaka, Indiana business.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
MISHAWAKA, IN 46545

SBA Loan Lender

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

The lender provided this SBA small 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

484220 - Specialized Local Freight Trucking

Loan Approval Date

11/21/2006

Loan Approval Gross Amount

$26,200

Loan Approval from the SBA

Of the total $26,200 loan amount, the SBA guaranteed $13,100.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from 1st Source Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Startup Funding Tip

Small Business Banks in South Bend, Indiana

Getting an SBA Loan in Indiana