Old National Bank SBA Loan to Professional, Scientific, And Technical Services Company

Old 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.

This business knew how to go about getting a business bank loan. Based in Indianapolis, Indiana, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Old National Bank, based in Evansville, Indiana.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
INDIANAPOLIS, IN 46278

SBA Loan Lender

OLD NATIONAL BANK
ONE MAIN ST
EVANSVILLE, IN 47708

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

12/22/2005

Loan Approval Gross Amount

$141,400

Loan Approval from the SBA

Of the total $141,400 loan amount, the SBA guaranteed $70,700.

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 14 employees. The loan application indicated that the loan would help generate 3 new jobs.

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

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

While you may be able to find business people willing to loan money, 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:

Role of Business Plan When Raising Money

SBA Banks in Evansville, Indiana

Indiana SBA 7A Banks