Converse, Indiana Bank Gives SBA Loan to Trucking Company

Get to know Converse, Indiana banks that specialize in business loans and know how to work with entrepreneurs. First Farmers Bank And Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Peru, Indiana starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First Farmers Bank And Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
PERU, IN 46970

SBA Loan Lender

FIRST FARMERS BANK AND TRUST
123 N JEFFERSON
CONVERSE, IN 46919

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

6/6/2003

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

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 66 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Peru IN, you ought to talk with a local Peru SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Peru businesses.

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

Business Credit Evaluation

Best Banks for Small Business in Converse, Indiana

SBA Lenders in Indiana