Indiana Business Loan Issued to General Line Grocery Merchant Wholesalers Company

Small business loans in Indiana are hard to find these days. We take a look at one Indiana small business loan, provided by an Indiana bank, that was approved by the SBA.

Getting a small business loan in Demotte, Indiana was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LINE GROCERY MERCHANT WHOLESALERS
DEMOTTE, IN 46310

SBA Loan Lender

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

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424410 - General Line Grocery Merchant Wholesalers

Loan Approval Date

4/20/2004

Loan Approval Gross Amount

$167,000

Loan Approval from the SBA

Of the total $167,000 loan amount, the SBA guaranteed $83,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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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