Indiana Entrepreneur Secures Financing to Buy Office Furniture Usa Franchise

Need money to purchase an Office Furniture Usa franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Office Furniture Usa franchise? If so, here's a 2002 SBA franchise loan that you should know about. National City Bank was the lender and the entrepreneur was based in Indianapolis, Indiana.

SBA Loan Borrower

OFFICE FURNITURE USA
INDIANAPOLIS, IN 46268

SBA Loan Lender

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

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

421420 - Office Equipment Wholesalers

Loan Approval Date

4/10/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Office Furniture Usa franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Indianapolis IN, you ought to talk with a local Indianapolis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Indianapolis businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Determining Proper Capital Structure for a Business

Small Bank Loans in Indianapolis, Indiana

Indiana SBA Bank Lenders