National Bank - Indianapolis Gives Business Loan to Instrument Manufacturing For Measuring And Testing Electric Devices Company

Business loans in Indiana are tough to come by these days. We take a look at one Indiana business loan, provided by an Indiana bank, that was approved by the SBA.

Getting a small business loan in Carmel, Indiana was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from National Bank - Indianapolis. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: INSTRUMENT MANUFACTURING FOR MEASURING AND TESTING ELECTRIC DEVICES
CARMEL, IN 46032

SBA Loan Lender

NATIONAL BANK - INDIANAPOLIS
107 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

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

334515 - Instrument Manufacturing for Measuring and Testing Electric Devices

Loan Approval Date

2/16/2006

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 9 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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SBA 7A Lenders in Indianapolis, Indiana

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