Mishawaka, Indiana Bank Gives SBA Loan to Beauty Salons Company

Find Mishawaka, Indiana banks that specialize in business loans and know how to work with entrepreneurs. Mfb Financial is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
SOUTH BEND, IN 46635

SBA Loan Lender

MFB FINANCIAL
121 S CHURCH ST
MISHAWAKA, IN 46544

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/30/2006

Loan Approval Gross Amount

$306,092

Loan Approval from the SBA

Of the total $306,092 loan amount, the SBA guaranteed $229,569.

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 50 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Getting a Small Business Loan

Small Bank Loans in Mishawaka, Indiana

Indiana SBA Banks