SBA loan approvals - November 2009

December 26, 2009
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Loan Approvals - Small Biz

SBA loans

SBA loan guarantees exceeding $100,000 for the month of November. These businesses have received loans from financial institutions with a guarantee from the SBA. Not all funds are disbursed immediately. Furthermore, some approved loans are subsequently canceled.

AMS Production Machining, 800 Andico Road, Plainfield, $1,200,000 from Bank of Indiana NA.

AMS Production Machining Inc., 800 Andico Road, Plainfield, $300,000 from Bank of Indiana NA.

Aman and Sukhmani Inc., 6349 N. College Ave., Indianapolis, $825,000 from First Capital Bank.

Angel Veterinary Services Inc., 110 N. Bluff Road, Greenwood, $576,000 from Premier Capital Corp.

Apparatus Inc., 1401 N. Meridian St., Indianapolis, $753,000 from Premier Capital Corp.

Michael F. Arnold DDS, 4950 E. Stop 11 Road, Suite A, Indianapolis, $640,000 from Bank of Indiana NA.

Aspire CPAs PC, 8425 Woodfield Crossing Blvd., Indianapolis, $125,000 from Keybank NA.

B&C Enterprises LLC, 5897 Silas Court, Carmel, $170,200 from Chase Bank NA.

Bladz Lawn Care LLC, 5891 N. County Road 100E, Pittsboro, $136,400 from State Bank Of Lizton.

Bubble Land Car Wash LLC, 5060 Cambridge Way, Plainfield, $630,000 from Indiana Business Bank.

C Store Vision LLC, 2504 W. Washington St., Indianapolis, $990,000 from The Farmers Bank.

DDS Subway Inc., 10501 Pokagon Way, Indianapolis, $393,700 from Chase Bank NA.

Electro-Spec Inc., 3070 RJ Parkway, Franklin, $1,577,900 from First Merchants Bank NA.

Eye Q Optometry PC, 9302 Meridian St., Indianapolis, $250,000 from Stock Yards Bank & Trust Co.

Harley Grain Co. Inc., 100 Cob St., Elwood, $650,000 from Star Financial Bank.

Hub On Mass Ave LLC, 333 Massachusetts Ave., Indianapolis, $200,000 from Indiana Business Bank.

JP Property Ventures LLC, 4166 Messersmith Drive, Greenwood, $350,000 from Chase Bank NA.

KAJ LLC, 1645 E. 116th St., Carmel, $175,000 from Keybank NA.

The Laundry Connection, 2653 Tobey Drive, Indianapolis, $150,000 from Indiana Business Bank.

Daniel S. Martin Orthodontics, 1000 W. Jefferson St., Franklin, $491,000 from Premier Capital Corp.

McClary Stover & Burnett LLC, 10401 N. Meridian St., Suite 280, Indianapolis, $115,000 from Old National Bank.

Mecom Ltd., 813 W. Carmel Drive, Carmel, $2,000,000 from Excel National Bank.

Moeller Printing Co. Inc., 4401 E. New York St., Indianapolis, $510,000 from The Huntington National Bank.

Moeller Printing Co. Inc., 4401 E. New York St., Indianapolis, $100,000 from The Huntington National Bank.

Northern Heating & Cooling, 8424 E. 56th St., Indianapolis, $161,000 from Indiana Business Bank.

Pinnacle Heart Specialists, 1935 N. Capitol Ave., Indianapolis, $170,000 from Indiana Business Bank.

The Play School At Arbor Villa, 11501 E. 116th St., Fishers, $667,000 from Premier Capital Corp.

RJM Lawn Solutions LLC, 40 Byram Blvd., Martinsville, $121,000 from Home Bank.

Ripple Effect Ltd., 6503 Carrollton Ave., Indianapolis, $165,000 from The Huntington National Bank.

SSA Food Services Inc., 624 Lawndale Drive, Plainfield, $150,000 from PNC Bank NA.

Sonar Studios Inc., 1060 N. Capitol Ave., C100, Indianapolis, $158,000 from M&I Bank.

Southside Automotive Service, 1335 W. 53rd St., Anderson, $260,000 from Indiana Statewide Certified Development Corp.

Spring-Green Lawn Care, 12654 Plum Creek Blvd., Carmel, $117,100 from Wells Fargo Bank NA.

Zann Real Estate Group LLC, 3607 Sedgemoor Circle, Carmel, $615,000 from The Huntington National Bank.•


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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

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  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing