Carmel, Indiana Entrepreneur Gets a Business Loan

SBA loans in Indiana are are few and far betweeen these days. We take a look at one Indiana SBA loan, provided by an Indiana bank, that was approved by the SBA.

This small business, based in Carmel, Indiana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from National Bank - Indianapolis. We've got the inside scoop on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: INSTRUMENT MANUFACTURING FOR MEASURING AND TESTING ELECTRIC DEVICES
CARMEL, IN 46032

SBA Loan Lender

NATIONAL BANK - INDIANAPOLIS
107 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334515 - Instrument Manufacturing for Measuring and Testing Electric Devices

Loan Approval Date

2/16/2006

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 9 employees. The SBA loan documents did not indicate that the business 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National Bank - Indianapolis are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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Small Bank Loans in Indianapolis, Indiana

Getting a Business Loan in Indiana