Indiana SBA Loan Issued to Heavy Construction Company

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

Getting a small business loan in Indianapolis, Indiana was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from State Bank Of Lizton. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
INDIANAPOLIS, IN 46227

SBA Loan Lender

STATE BANK OF LIZTON
206 N STATE ST
LIZTON, IN 46149

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

234990 - Heavy Construction

Loan Approval Date

5/26/2005

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 10 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.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

The Art of Bootstrapping

Small Bank Loans in Lizton, Indiana

Indiana SBA Bank Lenders