First State Bank Of Porter SBA Loan to Coin-Operated Laundries And Drycleaners Company

An SBA loan from First State Bank Of Porter typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Valparaiso, Indiana business owner got a $120,000 loan.

Getting a small business loan in Valparaiso, Indiana was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Of Porter, operating out of Porter, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
VALPARAISO, IN 46383

SBA Loan Lender

FIRST STATE BANK OF PORTER
230 LINCOLN ST
PORTER, IN 46304

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

12/2/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

We can help you find the best banks for small businesses in Valparaiso or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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