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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Alton, Business Loans > Liberty Bank Alton Business Loans > Iron And Steel Forgings Loan | ||||
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Alton SBA Loan from Liberty Bank
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Business Loan from Liberty Bank Given to Iron And Steel Forgings CompanyAn SBA loan from Liberty Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Alton, Illinois business owner got a $329,699 loan. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Liberty Bank, out of Alton, Illinois. The loan was granted and they received $329,699 to help grow their Alton, Illinois business. SBA Loan Borrower COMPANY TYPE: IRON AND STEEL FORGINGS SBA Loan Lender LIBERTY BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3462 - Iron and Steel Forgings NAICS Code 332111 - Iron and Steel Forging Loan Approval Date 4/19/2004 Loan Approval Gross Amount $329,699 Loan Approval from the SBA Of the total $329,699 loan amount, the SBA guaranteed $247,274. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Liberty Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Family and Friend Investors - Your First Financiers Good Banks for Small Business in Alton, Illinois
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