Indianapolis, Indiana Entrepreneur Gets a Bank Loan

Would an Indiana SBA loan help your business get to the next level? If so, you may want to talk with this Michigan bank, which offers SBA loans to Indiana entrepreneurs.

Getting a small business loan in Indianapolis, Indiana was a top priority for this particular business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS
Indianapolis, IN 46256

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

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

561790 - Services to Buildings and Dwellings

Loan Approval Date

1/9/2008

Loan Approval Gross Amount

$50,300

Loan Approval from the SBA

Of the total $50,300 loan amount, the SBA guaranteed $25,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help generate 1 new job.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Fifth Third Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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