New Albany, Indiana Business Gets SBA-Guaranteed Funding from Your Community Bank

An SBA loan from Your Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Albany, Indiana business owner got a $80,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Albany, Indiana was able to borrow $80,000 from Your Community Bank. The SBA made the loan possible by guaranteeing $40,000 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEW ALBANY, IN 47150

SBA Loan Lender

YOUR COMMUNITY BANK
101 W SPRING ST
NEW ALBANY, IN 47150

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/4/2007

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 26 employees. This SBA loan request indicated that the loan would help create 26 new jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Your Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Your Community 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:

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Banks in New Albany, Indiana

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