SBA Loans for Drywall, Plastering, Acoustical, and Insulation Contractors

Looking for SBA loans for drywall, plastering, acoustical, and insulation contractors? Talk to a banker who works with the SBA. This $100,000 drywall, plastering, acoustical, and insulation contractors loan was issued by an Indiana bank.

This business knew how to go about getting a business bank loan. Based in Portland, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Merchants Bank, based in Muncie, Indiana.

SBA Loan Borrower

COMPANY TYPE: PLASTERING, DRYWALL, AND INSULATION
PORTLAND, IN 47371

SBA Loan Lender

FIRST MERCHANTS BANK
200 E JACKSON ST
MUNCIE, IN 47305

This commercial 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

1742 - Plastering, Drywall, and Insulation

NAICS Code

235420 - Drywall, Plastering, Acoustical, and Insulation Contractors

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 35 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, things become real when you believe you can achieve them!

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:

Microlending as a Small Business Funding Source

SBA 7A Banks in Muncie, Indiana

SBA Lenders in Indiana