Entrepreneur Works With Indianapolis, Indiana Bank to Get an SBA Loan

Want to talk with an Indianapolis, Indiana bank about a small business loan? Here's one Ohio business loan, issued by an Indianapolis bank, that was approved by the SBA.

Applying for an SBA loan with National City Bank worked out well for our friends at one local company in Youngstown, Ohio. They received an SBA loan for $56,700. Awesome!

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS
YOUNGSTOWN, OH 44505

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

8/14/2000

Loan Approval Gross Amount

$56,700

Loan Approval from the SBA

Of the total $56,700 loan amount, the SBA guaranteed $45,360.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from National City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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