SBA Loan from Irwin Union Bank, F.S.B. Helps Amusement And Recreation Industries Company

An SBA loan from Irwin Union Bank, F.S.B. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Phoenix, Arizona business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Phoenix, Arizona was able to borrow $150,000 from Irwin Union Bank, F.S.B.. The SBA made the loan possible by guaranteeing $75,000 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
PHOENIX, AZ 85034

SBA Loan Lender

IRWIN UNION BANK, F.S.B.
500 WASHINGTON ST
COLUMBUS, IN 47202

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

713990 - Amusement and Recreation Industries

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 50 new jobs and retain 51 existing jobs.

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

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Irwin Union Bank, F.S.B. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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