SBA Loan from North Salem State Bank Helps Lessors Of Nonresidential Buildings Company

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

Getting a small business loan in Avon, Indiana was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from North Salem State Bank, operating out of North Salem, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
AVON, IN 46123

SBA Loan Lender

NORTH SALEM STATE BANK
7 N BROADWAY ST
NORTH SALEM, IN 46165

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

12/19/2007

Loan Approval Gross Amount

$1,585,000

Loan Approval from the SBA

Of the total $1,585,000 loan amount, the SBA guaranteed $1,188,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 50 employees. This SBA loan request indicated that the loan would help retain 50 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Avon or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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 - Getting Venture Capital

Where to Get an SBA Loan in North Salem, Indiana

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