Get an SBA Loan for Pet Care Services

With these loans for pet care services, the SBA guarantees the lender that the loan will be repaid. This pet care services loan for $52,710 was given to an Indiana entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Bend, Indiana was able to borrow $52,710 from 1st Source Bank. The SBA made the loan possible by guaranteeing $44,803 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: ANIMAL SPECIALTY SERVICES
SOUTH BEND, IN 46614

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0752 - Animal Specialty Services

NAICS Code

812910 - Pet Care Services

Loan Approval Date

4/8/2003

Loan Approval Gross Amount

$52,710

Loan Approval from the SBA

Of the total $52,710 loan amount, the SBA guaranteed $44,803.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Banking Deregulation's Effects on Entrepreneurship

Best South Bend, Indiana Banks for Small Business

Indiana SBA Banks