SBA Loans for Spice and Extract Manufacturing

Looking for SBA loans for spice and extract manufacturing? Talk to a banker who works with the SBA. This $120,000 spice and extract manufacturing loan was issued by an Indiana bank.

This business knew how to go about getting a business bank loan. Based in Westfield, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Farmers Bank And Trust, based in Converse, Indiana.

SBA Loan Borrower

COMPANY TYPE: SPICE AND EXTRACT MANUFACTURING
WESTFIELD, IN 46074

SBA Loan Lender

FIRST FARMERS BANK AND TRUST
123 N JEFFERSON
CONVERSE, IN 46919

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

311942 - Spice and Extract Manufacturing

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

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 40 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 40 existing jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Alternative Financing

Find an SBA Lender in Converse, Indiana

Getting an SBA Loan in Indiana