Getting an SBA Loan for Book Stores

With these commercial loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $149,900 was given to an Indiana entrepreneur in 2001.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Merchants Bank, out of Wabash, Indiana. The loan was granted and they received $149,900 to help grow their Wabash, Indiana business.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
WABASH, IN 46992

SBA Loan Lender

FIRST MERCHANTS BANK
1250 N CASS ST
WABASH, IN 46992

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5942 - Book Stores

NAICS Code

451211 - Book Stores

Loan Approval Date

7/6/2001

Loan Approval Gross Amount

$149,900

Loan Approval from the SBA

Of the total $149,900 loan amount, the SBA guaranteed $127,415.

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 6 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, 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.

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