Old National Bank SBA Loan to Glass Products, Made Of Purchased Glass Company

Old National Bank has a track record as a leading provider of SBA loans. Find out how this Indiana entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Shelbyville, Indiana, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Old National Bank, based in Muncie, Indiana.

SBA Loan Borrower

COMPANY TYPE: GLASS PRODUCTS, MADE OF PURCHASED GLASS
SHELBYVILLE, IN 46176

SBA Loan Lender

OLD NATIONAL BANK
110 E MAIN
MUNCIE, IN 47305

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3231 - Glass Products, Made of Purchased Glass

NAICS Code

327215 - Glass Product Manufacturing Made of Purchased Glass

Loan Approval Date

4/2/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Small Business Banks in Muncie, Indiana

SBA Participating Banks in Indiana

Old National Bank Business Loans Shelbyville, Indiana

Old National Bank SBA Loan to Glass Products, Made Of Purchased Glass Company