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May 16, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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SBA Lender Indianapolis
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SBA Loan from National City Bank Helps General Contracting For Nonresidential Buildings CompanyAn SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Indianapolis, Indiana business owner got a $350,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Indianapolis, Indiana was able to borrow $350,000 from National City Bank. The SBA made the loan possible by guaranteeing $262,500 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender NATIONAL CITY BANK 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 American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 6/8/2001 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. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: A Company That Helps Entrepreneurs SBA Approved Banks in Indianapolis, Indiana
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