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December 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Swansea, Business Loans > First Bank Swansea Business Loans > Skilled Nursing Care Facilities Loan | ||||
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Swansea, Illinois SBA Lenders
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Entrepreneur Works With Swansea, Illinois Bank to Get an SBA LoanA Swansea, Illinois SBA loan can be yours. Learn how a business got a $98,000 business loan from this Illinois bank. This loan to a local firm is a good example of an SBA loan. First Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: SKILLED NURSING CARE FACILITIES SBA Loan Lender FIRST BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8051 - Skilled Nursing Care Facilities NAICS Code 623110 - Nursing Care Facilities Loan Approval Date 10/14/2005 Loan Approval Gross Amount $98,000 Loan Approval from the SBA Of the total $98,000 loan amount, the SBA guaranteed $83,300. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in Swansea, Illinois
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