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November 15, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Evansville, Business Loans > Fifth Third Bank Evansville Business Loans > Auto And Home Supply Stores Loan | ||||
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Indiana SBA 7A Lenders
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Entrepreneur Works With Evansville, Indiana Bank to Get an SBA LoanWant to talk with an Evansville, Indiana bank about an SBA loan? Here's one Indiana business loan, issued by an Evansville bank, that was approved by the SBA. Applying for an SBA loan with Fifth Third Bank worked out well for our friends at one local business in Newburgh, Indiana. They got an SBA loan for $385,000. Sweet! SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender FIFTH THIRD BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores NAICS Code 441320 - Tire Dealers Loan Approval Date 3/24/2005 Loan Approval Gross Amount $385,000 Loan Approval from the SBA Of the total $385,000 loan amount, the SBA guaranteed $288,750. 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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Role of Business Plan When Raising Money SBA Approved Banks in Evansville, Indiana
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