Just use a modal. With AJAX there is the modal extender or you could just as easily use javascript.
something like
Javscript
Code:
<script language='javascript' type='text/javascript'>
function showLoading()
{
document.getElementById('blackOut').style.display = 'block';
document.getElementById('blackOut').style.height = '100%';
document.getElementById('blackOut').style.width = '100%';
}
</script>
then just create a hidden div and place somewhere on your page
Code:
<div id="blackOut" style="display: none; position: absolute; background-color: black; filter: alpha(opacity=70); -moz-opacity: 0.7; opacity: 0.7; z-index: 999; top: 0px; left: 0px; height: 1%; width: 1%; ">
<table width="100%" height="100%">
<tr>
<td align="center" valign="middle">
<h2 style="color: White; font-weight: bold">Processing...</h2>
</td>
</tr>
</table>
</div>
then your code for your textbox
Code:
<asp:TextBox ID="TextBox1" runat="server" OnTextChanged="TextBox1_TextChaged" onblur="showLoading();"></asp:TextBox>
again this is just a BASIC example. The height = '100%' isn't supported in older browsers from what i understand but i'm sure you can come up with some method of getting the screen size. But the modalpopupextender might be the easiest thing for you to use.