Local Business Gets an Indiana Business Loan

Business loans in Indiana are are few and far betweeen these days. We take a look at one Indiana business loan, provided by an Indiana bank, that was approved by the SBA.

Getting a small business loan in Indianapolis, Indiana was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Old National Bank. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
INDIANAPOLIS, IN 46256

SBA Loan Lender

OLD NATIONAL BANK
ONE MAIN ST
EVANSVILLE, IN 47708

This SBA 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

454210 - Vending Machine Operators

Loan Approval Date

1/25/2006

Loan Approval Gross Amount

$150,400

Loan Approval from the SBA

Of the total $150,400 loan amount, the SBA guaranteed $75,200.

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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $150,400. How would you spend $150,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Evansville, Indiana

Getting a Business Loan in Indiana