Merchants Bank of Indiana’s SBA Group Provides Financing for Drum Manufacturing Company

For those wondering how to obtain financing to expand their small business, a loan from the Small Business Administration (SBA) may be just the solution that you need. SBA loans are a viable option for business owners who want to grow their business.

When your business is experiencing growth, a slowdown in cash flow can negatively impact short and long term financials and goals. How can your small business keep up as it morphs into a mid-size company? Depending on the trajectory and maturity of your business, as well as how much debt you have, you can consider a variety of loans from the SBA team at Merchants Bank of Indiana.

Our highly skilled SBA group recently provided a $1.6 million loan to a drum manufacturing business in North Carolina. The company’s loan is being used to purchase commercial real estate to accommodate business expansion and warehouse needs, as the new building offers triple the current space being used to operate the business. The money will also be used for improvements to the new facility and to purchase new equipment.

All three of these “use of proceeds” are rolled into one simple SBA term loan facility, amortized over 25 years, providing the borrower with significant cash flow savings. With increased product lines, the new facility will allow them to manufacture drums of varying sizes and lids to accommodate customer needs.

If you’re equipped with the right tools – like this drum manufacturing company was – financing a growing business is a good problem to have. For more information about your options via Merchants Bank of Indiana’s SBA loan programs, click here.

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For More Information
Contact One of Our SBA Lenders

Sherwin Patidar Headshot

Sherwin Patidar

Senior Business Development Officer

Headshot of Tony Holtzman

Tony Holtzman

Senior Business Development Officer 317.502.8547

Headshot of Tony Boddie

Tony Boddie

Senior Business Development Officer

Robert Stringer

Business Development Officer

Headshot of Mark Harville

Mark Harville

Business Development Officer

Headshot of Jeff Scott

Jeff Scott

President, SBA Lending

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