Small Business Loans for Automotive Glass Replacement Shops

Looking for small business loans for automotive glass replacement shops? Talk to a banker who works with the SBA. This $75,000 automotive glass replacement shops loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Castle, Indiana was able to borrow $75,000 from Old National Bank. The SBA made the loan possible by guaranteeing $63,750 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE GLASS REPLACEMENT SHOPS
NEW CASTLE, IN 47362

SBA Loan Lender

OLD NATIONAL BANK
ONE MAIN ST
EVANSVILLE, IN 47708

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7536 - Automotive Glass Replacement Shops

NAICS Code

811122 - Automotive Glass Replacement Shops

Loan Approval Date

7/30/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks for Evansville, Indiana Loans

Where to Get an SBA Loan Indiana