Residential Remodelers Commercial Loans

With these commercial loans for residential remodelers, the SBA guarantees the lender that the loan will be repaid. This residential remodelers loan for $50,000 was given to an Indiana entrepreneur in 2006.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with National City Bank, out of Indianapolis, Indiana. The loan was granted and they received $50,000 to help grow their Greenfield, Indiana business.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
Greenfield, IN 46140

SBA Loan Lender

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

The lender provided this 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

236118 - Residential Remodelers

Loan Approval Date

1/10/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, 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.

Related Links:

Bank Credit Lines

Small Bank Loans in Indianapolis, Indiana

Getting a Business Loan in Indiana