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April 29, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Indianapolis, Business Loans > Old National Bank Indianapolis Business Loans > Meineke Muffler Shop Loan | ||||
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Banks for Franchise Loans in Indiana
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Old National Bank Provides SBA Loan to Buy Meineke Discount Muffler FranchiseBorrowing money to buy a Meineke Discount Muffler franchise? Old National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Indianapolis, Indiana needed money to invest in a Meineke Discount Muffler franchise back in 2002. Old National Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan. SBA Loan Borrower MEINEKE MUFFLER SHOP SBA Loan Lender OLD NATIONAL BANK This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/23/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Old National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Lenders in Indianapolis, Indiana
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