SBA Loan from The Huntington National Bank Helps Homefurnishings Company

The Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Indiana entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Indianapolis, Indiana was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Indianapolis, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
INDIANAPOLIS, IN 46250

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
45 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

This lender issued this SBA bank loan under the SBA 7A lending 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

5023 - Homefurnishings

NAICS Code

423220 - Home Furnishing Merchant Wholesalers

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$667,500

Loan Approval from the SBA

Of the total $667,500 loan amount, the SBA guaranteed $500,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Huntington National Bank and they will explain how you can get an SBA loan for your company.

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:

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SBA 7A Lenders in Indianapolis, Indiana

Indiana SBA Bank Lenders