Growing Company Gets an Indiana Business Loan

Bank loans in Indiana are tough to come by these days. We take a look at one Indiana bank loan, provided by an Indiana bank, that was approved by the SBA.

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

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL STEEL ERECTION
INDIANAPOLIS, IN 46225

SBA Loan Lender

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

This loan for a small business 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.

SIC Code

1791 - Structural Steel Erection

NAICS Code

235910 - Structural Steel Erection Contractors

Loan Approval Date

6/25/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 49 employees. The SBA loan documents did not indicate that the SBA funding recipient promised 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?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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SBA Approved Banks in Indianapolis, Indiana

Where to Get an SBA Loan Indiana