Kokomo, Indiana Bank Gives SBA Loan to Eating Places Company

Find Kokomo, Indiana banks that specialize in SBA loans and know how to work with entrepreneurs. Harris National Association is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Muncie, Indiana starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Harris National Association. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MUNCIE, IN 47303

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
101 W SYCAMORE ST
KOKOMO, IN 46904

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/12/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Muncie IN, you ought to talk with a local Muncie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Muncie businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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