Muncie, Indiana Bank Lends Money to Electrical Work Company in Muncie, Indiana

Get to know Muncie, Indiana banks that specialize in SBA loans and know how to work with entrepreneurs. First Merchants Bank is one such bank, as evidenced by this SBA loan to a growing company.

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 small business received funding from First Merchants Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WORK
MUNCIE, IN 47305

SBA Loan Lender

FIRST MERCHANTS BANK
200 E JACKSON ST
MUNCIE, IN 47305

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1731 - Electrical Work

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$355,000

Loan Approval from the SBA

Of the total $355,000 loan amount, the SBA guaranteed $266,250.

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 46 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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SBA Banks in Muncie, Indiana

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