New Albany, Indiana Business Gets SBA-Guaranteed Funding from 1st Independence Bank

An SBA loan from 1st Independence Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Albany, Indiana business owner got a $180,500 loan.

This small firm knew how to go about getting a business bank loan. Based in New Albany, Indiana, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was 1st Independence Bank, based in Louisville, Kentucky.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NEW ALBANY, IN 47150

SBA Loan Lender

1ST INDEPENDENCE BANK
8620 BIGGIN HILL LN
LOUISVILLE, KY 40220

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/25/2002

Loan Approval Gross Amount

$180,500

Loan Approval from the SBA

Of the total $180,500 loan amount, the SBA guaranteed $135,375.

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 27 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in New Albany or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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