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December 20, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Traverse City, Business Loans > Irwin Union Bank & Trust Traverse City Business Loans > Special Trade Contractors Loan | ||||
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IN SBA Loan from Irwin Union Bank & Trust
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Westport, Indiana Business Gets SBA-Guaranteed Funding from Irwin Union Bank & TrustAn SBA loan from Irwin Union Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Westport, Indiana business owner got a $160,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Irwin Union Bank & Trust, out of Traverse City, Michigan. The loan was granted and they received $160,000 to help grow their Westport, Indiana business. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender IRWIN UNION BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1799 - Special Trade Contractors NAICS Code 235990 - Special Trade Contractors Loan Approval Date 5/8/2003 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 loan amount, the SBA guaranteed $120,000. 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 7 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Irwin Union Bank & Trust and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - Getting Venture Capital SBA Participating Banks in Traverse City, Michigan SBA Participating Banks in Michigan
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