Mooresville, Indiana Business Gets SBA-Guaranteed Funding from Monroe Bank

An SBA loan from Monroe Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mooresville, Indiana business owner got a $425,000 loan.

Getting a small business loan in Mooresville, Indiana was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Monroe Bank, operating out of Bloomington, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
MOORESVILLE, IN 46158

SBA Loan Lender

MONROE BANK
210 E KIRKWOOD AVE
BLOOMINGTON, IN 47408

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to offer fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5191 - Farm Supplies

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

3/31/2003

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

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 27 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Mooresville IN, you ought to talk with a local Mooresville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mooresville 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:

Equity Financing

Small Bank Loans in Bloomington, Indiana

Indiana SBA 7A Lenders