Local Business Gets an Indiana Bank Loan

Looking to get an Indiana business loan? This Indiana entrepreneur got a business loan, provided by an Indiana bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in South Bend, Indiana by studying this loan to a local business, made back in 2005. Banks like 1st Source Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
SOUTH BEND, IN 46616

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

9/20/2005

Loan Approval Gross Amount

$1,994,400

Loan Approval from the SBA

Of the total $1,994,400 loan amount, the SBA guaranteed $1,495,800.

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 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st Source Bank and they will explain how you can get an SBA loan for your company.

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:

Bank Credit Lines

Banks in South Bend, Indiana

Getting an SBA Loan in Indiana