Old National Bank
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Old National Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 640 | $481.6M | $752K | 5.3% |
| 713940 | Fitness and Recreational Sports Centers | 344 | $135.8M | $395K | 2.9% |
| 238990 | All Other Specialty Trade Contractors | 344 | $365.7M | $1.1M | 2.9% |
| 722513 | Limited-Service Restaurants | 280 | $262.6M | $938K | 2.3% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 256 | $181.6M | $710K | 2.1% |
| 624410 | Child Day Care Services | 256 | $325.3M | $1.3M | 2.1% |
| 713990 | All Other Amusement and Recreation Industries | 216 | $281.5M | $1.3M | 1.8% |
| 812112 | Beauty Salons | 208 | $68.5M | $329K | 1.7% |
| 332999 | All Other Miscellaneous Fabricated Metal Product Manufacturing | 192 | $248.6M | $1.3M | 1.6% |
| 621310 | Offices of Chiropractors | 192 | $102.6M | $535K | 1.6% |
Geographic Distribution
SBA lending activity for Old National Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 3,768 | $3.21B | 31.4% |
| Wisconsin (WI) | 1,576 | $1.67B | 13.2% |
| Indiana (IN) | 1,536 | $1.22B | 12.8% |
| Michigan (MI) | 1,080 | $1.11B | 9.0% |
| Illinois (IL) | 856 | $927.7M | 7.1% |
| Georgia (GA) | 424 | $561.1M | 3.5% |
| Tennessee (TN) | 624 | $527.1M | 5.2% |
| North Dakota (ND) | 464 | $318.4M | 3.9% |
| Kentucky (KY) | 376 | $303.9M | 3.1% |
| Florida (FL) | 192 | $216.6M | 1.6% |
| California (CA) | 136 | $152.4M | 1.1% |
| Texas (TX) | 160 | $142.5M | 1.3% |
| Ohio (OH) | 80 | $124.4M | 0.7% |
| New York (NY) | 48 | $79.9M | 0.4% |
| South Carolina (SC) | 48 | $68.8M | 0.4% |
| Missouri (MO) | 64 | $67.2M | 0.5% |
| North Carolina (NC) | 104 | $54.8M | 0.9% |
| Maryland (MD) | 48 | $54.7M | 0.4% |
| New Jersey (NJ) | 32 | $47.3M | 0.3% |
| Connecticut (CT) | 16 | $39.8M | 0.1% |
| Pennsylvania (PA) | 72 | $35.3M | 0.6% |
| Utah (UT) | 16 | $34.3M | 0.1% |
| Arkansas (AR) | 24 | $29.6M | 0.2% |
| Colorado (CO) | 32 | $26.8M | 0.3% |
| Louisiana (LA) | 40 | $26.5M | 0.3% |
| District of Columbia (DC) | 16 | $20.1M | 0.1% |
| Virginia (VA) | 40 | $15.4M | 0.3% |
| Arizona (AZ) | 16 | $12.9M | 0.1% |
| Oklahoma (OK) | 8 | $11.8M | 0.1% |
| South Dakota (SD) | 16 | $10.5M | 0.1% |
| Iowa (IA) | 16 | $8.0M | 0.1% |
| Alabama (AL) | 16 | $2.7M | 0.1% |
| Nevada (NV) | 8 | $2.4M | 0.1% |
| Kansas (KS) | 16 | $2.0M | 0.1% |
| New Mexico (NM) | 8 | $1.5M | 0.1% |
| Nebraska (NE) | 8 | $1.2M | 0.1% |
Why Choose Old National Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 11,984 SBA loans approved, totaling $11.13B in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Fitness and Recreational Sports Centers, All Other Specialty Trade Contractors
- ✓Competitive Terms: Average interest rate of 7.31% with flexible term lengths averaging 149 months
- ✓Loan Range: Loan sizes from $10K to $5.0M, with an average of $929K
- ✓Nationwide Reach: Active lending in 36 states, with strong presence in MN, WI, IN
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Old National Bank SBA lending
What types of businesses does Old National Bank typically finance?
Old National Bank specializes in SBA 7(a) lending to specific industries including full-service restaurants, fitness and recreational sports centers, all other specialty trade contractors, limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Old National Bank's typical SBA loan terms?
Old National Bank's SBA 7(a) loans typically feature an average interest rate of 7.31% and average term length of 149 months (approximately 12 years). Loan sizes range from $10K to $5.0M, with an average loan size of $929K.
Do I need a business valuation for a Old National Bank SBA loan?
Yes, Old National Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Old National Bank compare to other SBA lenders?
Old National Bank has originated 11,984 SBA loans totaling $11.13B since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Old National Bank lend in?
Old National Bank provides SBA 7(a) financing with particularly strong presence in MN, WI, IN, MI, IL. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
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