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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Columbus, Business Loans > Irwin Union Bank & Trust Columbus Business Loans > Industrial Building Construction Loan | ||||
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Banks in Columbus, Indiana That Make SBA Loans
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Columbus, Indiana Bank Lends Money to Industrial Building Construction Company in Traverse City, MichiganWant to talk with a Columbus, Indiana bank about a business loan? Here's one Michigan business loan, issued by a Columbus bank, that was approved by the SBA. Applying for an SBA loan with Irwin Union Bank & Trust worked out well for our friends at one local firm in Traverse City, Michigan. They got an SBA loan for $162,000. Awesome! SBA Loan Borrower COMPANY TYPE: INDUSTRIAL BUILDING CONSTRUCTION SBA Loan Lender IRWIN UNION BANK & TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 236210 - Industrial Building Construction Loan Approval Date 6/11/2007 Loan Approval Gross Amount $162,000 Loan Approval from the SBA Of the total $162,000 loan amount, the SBA guaranteed $81,000. 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 indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. 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:
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