Getting an SBA Loan for Recyclable Material Wholesalers

With these commercial loans for recyclable material wholesalers, the SBA guarantees the lender that the loan will be repaid. This recyclable material wholesalers loan for $350,000 was given to an Indiana entrepreneur in 2001.

Getting a small business loan in Evansville, Indiana was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Old National Bank, operating out of Indianapolis, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SCRAP AND WASTE MATERIALS
EVANSVILLE, IN 47725

SBA Loan Lender

OLD NATIONAL BANK
101 W OHIO ST, STE 101
INDIANAPOLIS, IN 46204

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 loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5093 - Scrap and Waste Materials

NAICS Code

421930 - Recyclable Material Wholesalers

Loan Approval Date

8/10/2001

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 9 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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