Business Loan from First Merchants Bank Given to Wood Kitchen Cabinets Company

An SBA loan from First Merchants Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Twelve Mile, Indiana business owner got a $88,500 loan.

Getting a small business loan in Twelve Mile, Indiana was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Merchants Bank, operating out of Wabash, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD KITCHEN CABINETS
TWELVE MILE, IN 46988

SBA Loan Lender

FIRST MERCHANTS BANK
1250 N CASS ST
WABASH, IN 46992

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2434 - Wood Kitchen Cabinets

NAICS Code

337110 - Wood Kitchen Cabinet and Countertop Manufacturing

Loan Approval Date

4/12/2001

Loan Approval Gross Amount

$88,500

Loan Approval from the SBA

Of the total $88,500 loan amount, the SBA guaranteed $75,225.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Merchants Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Cash Advances

Banks in Wabash, Indiana

Indiana SBA 7A Banks