Growing Company Gets an Illinois SBA Loan

Would an Illinois bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs.

Getting a small business loan in Alton, Illinois was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Liberty Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: METAL CANS
ALTON, IL 62002

SBA Loan Lender

LIBERTY BANK
2403 HOMER ADAMS PKWY
ALTON, IL 62002

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3411 - Metal Cans

NAICS Code

332111 - Iron and Steel Forging

Loan Approval Date

11/12/2004

Loan Approval Gross Amount

$320,000

Loan Approval from the SBA

Of the total $320,000 loan amount, the SBA guaranteed $240,000.

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 14 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Liberty Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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