Borrowing Money for Hardware Stores

With these loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $59,460 was given to an Indiana entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Lincoln Bank, out of Greenwood, Indiana. The loan was granted and they received $59,460 to help grow their Morgantown, Indiana business.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
MORGANTOWN, IN 46160

SBA Loan Lender

LINCOLN BANK
996 S STATE RD 135
GREENWOOD, IN 46143

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

2/25/2002

Loan Approval Gross Amount

$59,460

Loan Approval from the SBA

Of the total $59,460 loan amount, the SBA guaranteed $50,541.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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 $59,460 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.

Related Links:

Bank Credit Lines

SBA 7A Banks in Greenwood, Indiana

Find an SBA Lender in Indiana