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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mount Carmel, Business Loans > Old National Bank Mount Carmel Business Loans > Family Clothing Stores Loan | ||||
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Mount Carmel SBA Lenders
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Mount Carmel, Illinois Lender Lends Money to Family Clothing Stores CompanyWant to talk with a Mount Carmel, Illinois bank about an SBA loan? Here's one Illinois business loan, issued by a Mount Carmel bank, that was approved by the SBA. Applying for an SBA loan with Old National Bank worked out well for our friends at one local firm in Allendale, Illinois. The business was able to get an SBA loan for $100,000. Awesome! SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender OLD NATIONAL BANK This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448140 - Family Clothing Stores Loan Approval Date 1/28/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Old National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Find an SBA Lender in Mount Carmel, Illinois
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