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May 16, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Personal Services Loan | ||||
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Indianapolis, Indiana SBA 7A Banks
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Indianapolis, Indiana Bank Gives SBA Loan to Personal Services CompanyAn Indianapolis, Indiana SBA loan can be yours. Learn how a company got a $40,000 business loan from this Indiana bank. This loan to an entrepreneur is a good example of an SBA loan. National City Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender NATIONAL CITY BANK This lender issued this particular small business 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 7299 - Personal Services NAICS Code 812199 - Personal Care Services Loan Approval Date 4/27/2001 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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. Related Links: Obtaining Funding From a Venture Capitalist Who Lends Money to Small Businesses in Indianapolis, Indiana
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