Growing Company Gets an Indiana SBA Loan

Would an Indiana bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Indiana bank, which offers SBA loans to Indiana entrepreneurs.

You can learn something about getting a small business loan in Anderson, Indiana by studying this loan to a local company, made back in 2006. Banks like Ossian State Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY MANUFACTURING
ANDERSON, IN 46013

SBA Loan Lender

OSSIAN STATE BANK
102 N JEFFERSON ST
OSSIAN, IN 46777

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, 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.

NAICS Code

333298 - Industrial Machinery Manufacturing

Loan Approval Date

3/9/2006

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 29 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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:

Strategic Investors

Small Business Banks in Ossian, Indiana

Indiana SBA 7A Banks