Business Loan from Old National Bank Given to Plumbing, Heating, And Air-Conditioning Company

Old National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Indiana entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Old National Bank, out of Indianapolis, Indiana. The loan was granted and they received $650,000 to help grow their Greenwood, Indiana business.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING
GREENWOOD, IN 46143

SBA Loan Lender

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

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1711 - Plumbing, Heating, and Air-Conditioning

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

1/26/2001

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 20 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $650,000 loan. Remember, where there is a will, there is a way!

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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