Old National Bank Gives Bank Loan to Measuring And Controlling Devices Company

Would an Indiana business loan help your company expand? If so, you may want to talk with this Indiana bank, which offers SBA loans to Indiana entrepreneurs.

Getting a small business loan in Carmel, Indiana was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Old National Bank. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MEASURING AND CONTROLLING DEVICES
CARMEL, IN 46032

SBA Loan Lender

OLD NATIONAL BANK
101 W OHIO ST, STE 101
INDIANAPOLIS, IN 46204

This lender issued this business loan under the 7A SBA 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.

SIC Code

3829 - Measuring and Controlling Devices

NAICS Code

334519 - Measuring and Controlling Device Manufacturing

Loan Approval Date

8/8/2002

Loan Approval Gross Amount

$525,000

Loan Approval from the SBA

Of the total $525,000 loan amount, the SBA guaranteed $393,750.

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 26 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Old National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Old National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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