Business Loan from Bank Of The West Given to Mattresses, Foundations, And Convertible Beds Company

An SBA loan from Bank Of The West 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 $500,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Albany, Indiana was able to borrow $500,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $375,000 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MATTRESSES, FOUNDATIONS, AND CONVERTIBLE BEDS
NEW ALBANY, IN 47150

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

This lender provides SBA 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.

SIC Code

2515 - Mattresses, Foundations, and Convertible Beds

NAICS Code

337910 - Mattress Manufacturing

Loan Approval Date

5/10/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 70 employees. The SBA loan application for the borrower indicated that the loan would help retain 70 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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