Indiana SBA Loan Issued to Gift, Novelty, And Souvenir Shops Company

SBA loans in Indiana are are few and far betweeen these days. We take a look at one Indiana SBA loan, provided by an Indiana bank, that was approved by the SBA.

You can learn something about getting a small business loan in Nashville, Indiana by studying this loan to a local business, made back in 2001. Banks like The Peoples State Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
NASHVILLE, IN 47448

SBA Loan Lender

THE PEOPLES STATE BANK
200 E KIRKWOOD
BLOOMINGTON, IN 47401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

1/25/2001

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $74,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Nashville IN, you ought to talk with a local Nashville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Nashville businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Peoples State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

SBA Banks in Bloomington, Indiana

Where to Get an SBA Loan Indiana