SBA Loan from North Salem State Bank Helps Sporting And Athletic Goods Manufacturing Company

North Salem State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Indiana entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Indianapolis, Indiana, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was North Salem State Bank, based in North Salem, Indiana.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND ATHLETIC GOODS MANUFACTURING
INDIANAPOLIS, IN 46220

SBA Loan Lender

NORTH SALEM STATE BANK
7 N BROADWAY ST
NORTH SALEM, IN 46165

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339920 - Sporting and Athletic Goods Manufacturing

Loan Approval Date

8/19/2005

Loan Approval Gross Amount

$189,000

Loan Approval from the SBA

Of the total $189,000 loan amount, the SBA guaranteed $141,750.

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 5 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Indianapolis IN, you ought to talk with a local Indianapolis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Indianapolis businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like North Salem State Bank 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.

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