Old National Bank
SBA Preferred Lender in Evansville, IN: SBA 7(a), Express and 504 loans $15,000 to $5M, 7.75% median rate. Best for established Midwest firms; collateral required, no posted credit floor.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Established Midwest businesses and company buyers that want a bank-held SBA 7(a) or Express loan of $15,000 to $5M and can pledge collateral.
Not for: Borrowers who want posted rates, an unsecured loan or money within days.
Lender List verdict: Old National Bank is an Evansville, Indiana SBA Preferred Lender that approved 179 SBA 7(a) loans worth $177.4M in the 12 months to June 30, 2026, at a 7.75% median starting rate. Only a banker quotes pricing.
Old National Bank at a glance
Old National Bank is an Evansville, Indiana SBA Preferred Lender.
| Old National Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 3832); SBA Preferred Lender |
| Founded / HQ | 1834 (FDIC: 1907) / Evansville, Indiana |
| Amounts | $15,000 to $5M (recent median $400,000) |
| Cost (headline) | 6.74% to 9.5%, median 7.75% (last 12 months) |
| Term | Up to 120 months; up to 300 months on real estate |
| Status | Active; last SBA approval June 30, 2026 |
What is Old National Bank?
Old National Bank, the bank of Old National Bancorp, was founded in 1834 and has about $73.9 billion in assets, 360 offices and a small business banking unit.
Since FY2020 it has approved 1,586 SBA 7(a) loans totaling $1.49 billion, most of them in Minnesota. Source: SBA 7(a) FOIA data, FY2020–present, as of June 30, 2026 (data.sba.gov).
Old National Bank's SBA programs
Old National Bank offers SBA 7(a), Express and 504 loans and approves most in-house (105 of its last 179 as a Preferred Lender, 70 via Express). It approved 293 SBA 7(a) loans in FY2024, 229 in FY2025 and 128 in FY2026 through June.
Loans fund acquisitions, real estate, equipment, refinancing or working capital, fixed or floating, with no balloon.
Old National Bank SBA loan rates and fees
Old National Bank's last 179 SBA 7(a) loans started at 6.74% to 9.5%, with a 7.75% median. With Prime at 7.00%, SBA caps a $350K variable loan at 11.5%. SBA adds a 3% guaranty fee on the guaranteed share of loans from $150,001 to $700K; bank fees are unpublished.
Worked example: $350,000 over 10 years at 7.75% is $4,200.37 a month, or $154,044.65 in interest. Add the $7,875 guaranty fee ($350,000 × 75% × 3%) for a total cost of $161,919.65, about 8.27% APR with the fee financed.
Old National Bank requirements
Old National Bank posts no credit score, time-in-business or down payment minimum.
| Requirement | Old National Bank |
|---|---|
| Business type | For-profit, within SBA size standards |
| Collateral | Taken on all 179 loans in the last 12 months |
| Personal guarantee | Owners of 20% or more |
Compare SBA 7(a) lenders, or see Busey Bank and the loan marketplace Lendio.
Frequently asked questions about Old National Bank
Is Old National Bank Legit? Yes. Old National Bank is an active FDIC-insured bank (certificate 3832) dating to 1834, with about $73.9 billion in assets. As an SBA Preferred Lender it has approved 1,586 SBA 7(a) loans since FY2020; only 12 were later charged off.
How Long Does Old National Bank Take to Close an SBA Loan? Old National Bank does not publish a timeline; standard SBA 7(a) loans often take 60 to 90 days. It decided 175 of its last 179 loans in-house as a Preferred or Express lender, skipping the 5 to 10 business days of SBA review.
Does Old National Bank Lend to Startups? Yes, though most loans go to established firms. Of Old National Bank's 179 SBA 7(a) loans in the 12 months to June 30, 2026, 16 (9%) funded businesses not yet open and 49 went to firms two years old or younger.
Where Is Old National Bank Headquartered? Old National Bank is headquartered at 1 Main Street in Evansville, Indiana 47708, with 360 offices, about $73.9 billion in assets and Old National Bancorp as parent. Its last 179 SBA loans reached 12 states, led by Minnesota (52), Wisconsin (25) and Indiana (25).
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Established Midwest businesses and company buyers that want a bank-held SBA 7(a) or Express loan of $15,000 to $5M and can pledge collateral.
Not for: Borrowers who want posted rates, an unsecured loan or money within days.
Lender List verdict: Old National Bank is an Evansville, Indiana SBA Preferred Lender that approved 179 SBA 7(a) loans worth $177.4M in the 12 months to June 30, 2026, at a 7.75% median starting rate. Only a banker quotes pricing.
Old National Bank at a glance
Old National Bank is an Evansville, Indiana SBA Preferred Lender.
| Old National Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 3832); SBA Preferred Lender |
| Founded / HQ | 1834 (FDIC: 1907) / Evansville, Indiana |
| Amounts | $15,000 to $5M (recent median $400,000) |
| Cost (headline) | 6.74% to 9.5%, median 7.75% (last 12 months) |
| Term | Up to 120 months; up to 300 months on real estate |
| Status | Active; last SBA approval June 30, 2026 |
What is Old National Bank?
Old National Bank, the bank of Old National Bancorp, was founded in 1834 and has about $73.9 billion in assets, 360 offices and a small business banking unit.
Since FY2020 it has approved 1,586 SBA 7(a) loans totaling $1.49 billion, most of them in Minnesota. Source: SBA 7(a) FOIA data, FY2020–present, as of June 30, 2026 (data.sba.gov).
Old National Bank's SBA programs
Old National Bank offers SBA 7(a), Express and 504 loans and approves most in-house (105 of its last 179 as a Preferred Lender, 70 via Express). It approved 293 SBA 7(a) loans in FY2024, 229 in FY2025 and 128 in FY2026 through June.
Loans fund acquisitions, real estate, equipment, refinancing or working capital, fixed or floating, with no balloon.
Old National Bank SBA loan rates and fees
Old National Bank's last 179 SBA 7(a) loans started at 6.74% to 9.5%, with a 7.75% median. With Prime at 7.00%, SBA caps a $350K variable loan at 11.5%. SBA adds a 3% guaranty fee on the guaranteed share of loans from $150,001 to $700K; bank fees are unpublished.
Worked example: $350,000 over 10 years at 7.75% is $4,200.37 a month, or $154,044.65 in interest. Add the $7,875 guaranty fee ($350,000 × 75% × 3%) for a total cost of $161,919.65, about 8.27% APR with the fee financed.
Old National Bank requirements
Old National Bank posts no credit score, time-in-business or down payment minimum.
| Requirement | Old National Bank |
|---|---|
| Business type | For-profit, within SBA size standards |
| Collateral | Taken on all 179 loans in the last 12 months |
| Personal guarantee | Owners of 20% or more |
Compare SBA 7(a) lenders, or see Busey Bank and the loan marketplace Lendio.
Frequently asked questions about Old National Bank
Is Old National Bank Legit? Yes. Old National Bank is an active FDIC-insured bank (certificate 3832) dating to 1834, with about $73.9 billion in assets. As an SBA Preferred Lender it has approved 1,586 SBA 7(a) loans since FY2020; only 12 were later charged off.
How Long Does Old National Bank Take to Close an SBA Loan? Old National Bank does not publish a timeline; standard SBA 7(a) loans often take 60 to 90 days. It decided 175 of its last 179 loans in-house as a Preferred or Express lender, skipping the 5 to 10 business days of SBA review.
Does Old National Bank Lend to Startups? Yes, though most loans go to established firms. Of Old National Bank's 179 SBA 7(a) loans in the 12 months to June 30, 2026, 16 (9%) funded businesses not yet open and 49 went to firms two years old or younger.
Where Is Old National Bank Headquartered? Old National Bank is headquartered at 1 Main Street in Evansville, Indiana 47708, with 360 offices, about $73.9 billion in assets and Old National Bancorp as parent. Its last 179 SBA loans reached 12 states, led by Minnesota (52), Wisconsin (25) and Indiana (25).
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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