Business Loans for Machine Shops

With these business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $60,000 was given to an Indiana entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in North Vernon, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was National City Bank, based in Indianapolis, Indiana.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
North Vernon, IN 47265

SBA Loan Lender

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

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

332710 - Machine Shops

Loan Approval Date

1/11/2005

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in North Vernon IN, you ought to talk with a local North Vernon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to North Vernon businesses.

We can help you find the best banks for small businesses in North Vernon 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.

Related Links:

Dealing With Venture Capitalists

SBA 7A Banks in Indianapolis, Indiana

SBA Lenders in Indiana