Old National Bank SBA Loan to Radio Stations Company

Old National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Indiana entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Vincennes, Indiana, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Old National Bank, based in Vincennes, Indiana.

SBA Loan Borrower

COMPANY TYPE: RADIO STATIONS
VINCENNES, IN 47591

SBA Loan Lender

OLD NATIONAL BANK
20 N 3RD ST
VINCENNES, IN 47591

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

NAICS Code

515112 - Radio Stations

Loan Approval Date

7/28/2006

Loan Approval Gross Amount

$1,550,000

Loan Approval from the SBA

Of the total $1,550,000 loan amount, the SBA guaranteed $1,162,500.

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 24 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Old National 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.

Related Links:

Accountant's Role in Securing Financing

SBA Approved Banks in Vincennes, Indiana

SBA Lenders in Indiana