Indianapolis, Indiana Bank Gives SBA Loan to Water, Sewer, And Utility Lines Company

An Indianapolis, Indiana SBA loan can be yours. Learn how a business got a $1,246,000 business loan from this Indiana bank.

This loan to an entrepreneur is a good example of an SBA loan. Old National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Indiana entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: WATER, SEWER, AND UTILITY LINES
OOLITIC, IN 47451

SBA Loan Lender

OLD NATIONAL BANK
101 W OHIO ST, STE 101
INDIANAPOLIS, IN 46204

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1623 - Water, Sewer, and Utility Lines

NAICS Code

234910 - Water, Sewer, and Pipeline Construction

Loan Approval Date

5/8/2002

Loan Approval Gross Amount

$1,246,000

Loan Approval from the SBA

Of the total $1,246,000 loan amount, the SBA guaranteed $934,500.

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 56 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Oolitic IN, you ought to talk with a local Oolitic SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oolitic businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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Indianapolis, Indiana Bank Gives SBA Loan to Water, Sewer, And Utility Lines Company