Bank Loans for Residential Remodelers

With these bank loans for residential remodelers, the SBA guarantees the lender that the loan will be repaid. This residential remodelers loan for $81,300 was given to an Indiana entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nappanee, Indiana was able to borrow $81,300 from 1st Source Bank. The SBA made the loan possible by guaranteeing $69,105 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
NAPPANEE, IN 46550

SBA Loan Lender

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

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236118 - Residential Remodelers

Loan Approval Date

6/5/2006

Loan Approval Gross Amount

$81,300

Loan Approval from the SBA

Of the total $81,300 loan amount, the SBA guaranteed $69,105.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st Source Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st Source Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Strategic Investors

Where to Get an SBA Loan in South Bend, Indiana

Indiana SBA Bank Lenders