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November 22, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Used Car Dealers Loan | ||||
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What Does It Take to Get a Business Loan in South Bend, Indiana?
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Used Car Dealers Commercial LoansLooking for commercial loans for used car dealers? Try the SBA. This $135,000 used car dealers loan was issued by an Indiana bank. This business knew how to go about getting a business bank loan. Based in South Bend, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was 1st Source Bank, based in South Bend, Indiana. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender 1ST SOURCE BANK This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 441120 - Used Car Dealers Loan Approval Date 7/9/2007 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $67,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Find an SBA Lender in South Bend, Indiana
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