Indianapolis, Indiana Business Gets SBA-Guaranteed Funding from National City Bank

National City 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 received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with National City Bank, out of Indianapolis, Indiana. The loan was granted and they received $40,000 to help grow their Indianapolis, Indiana business.

SBA Loan Borrower

COMPANY TYPE: BARBER SHOPS
Indianapolis, IN 46260

SBA Loan Lender

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

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

812111 - Barber Shops

Loan Approval Date

3/30/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 4 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.

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.

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