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November 24, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Manufactured Ice Loan | ||||
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SBA 7A Banks in Indiana
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Get an SBA Loan for Ice ManufacturingWith these small business loans for ice manufacturing, the SBA guarantees the lender that the loan will be repaid. This ice manufacturing loan for $55,200 was given to an Indiana entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Indianapolis, Indiana was able to borrow $55,200 from National City Bank. The SBA made the loan possible by guaranteeing $46,920 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: MANUFACTURED ICE SBA Loan Lender NATIONAL CITY BANK 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. SIC Code 2097 - Manufactured Ice NAICS Code 312113 - Ice Manufacturing Loan Approval Date 9/24/2002 Loan Approval Gross Amount $55,200 Loan Approval from the SBA Of the total $55,200 loan amount, the SBA guaranteed $46,920. 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 7 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. 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. We can help you find the best banks for small businesses in Indianapolis or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA 7A Banks in Indianapolis, Indiana
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