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December 23, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Drycleaning And Laundry Services Loan | ||||
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National City Bank
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SBA Loan from National City Bank Helps Drycleaning And Laundry Services CompanyAn SBA loan from National City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Indianapolis, Indiana business owner got a $220,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Indianapolis, Indiana was able to borrow $220,000 from National City Bank. The SBA made the loan possible by guaranteeing $110,000 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender NATIONAL CITY BANK The lender provided this SBA 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 812320 - Drycleaning and Laundry Services Loan Approval Date 3/10/2005 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $110,000. 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 6 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Small Business Banks in Indianapolis, Indiana
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