Raising Money for Open-End Investment Funds

With these bank loans for open-end investment funds, the SBA guarantees the lender that the loan will be repaid. This open-end investment funds loan for $150,000 was given to an Indiana entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Indianapolis, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was National Bank - Indianapolis, based in Indianapolis, Indiana.

SBA Loan Borrower

COMPANY TYPE: MANAGEMENT INVESTMENT OFFICES
INDIANAPOLIS, IN 46240

SBA Loan Lender

NATIONAL BANK - INDIANAPOLIS
ONE AMERICAN SQ, STE 100
INDIANAPOLIS, IN 46282

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6722 - Management Investment Offices

NAICS Code

525910 - Open-End Investment Funds

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $150,000 loan. Remember, if it to be, it is up to me!

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:

Business Incubators

Where to Get an SBA Loan in Indianapolis, Indiana

SBA Indiana Banks