Valparaiso, Indiana Entrepreneur Gets a Business Loan

Business loans in Indiana are hard to find these days. We take a look at one Indiana business loan, provided by an Illinois bank, that was approved by the SBA.

You can learn something about getting a small business loan in Valparaiso, Indiana by studying this loan to a local business, made back in 2003. Banks like Harris National Association may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
VALPARAISO, IN 46385

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
111 W MONROE ST
CHICAGO, IL 60603

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8071 - Medical Laboratories

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

11/10/2003

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you have been wondering how do i get money to start a business in Valparaiso IN, you ought to talk with a local Valparaiso SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Valparaiso businesses.

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.

Related Links:

Small Business Loan

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SBA Illinois Lenders