Entrepreneur Works With Springfield, Illinois Bank to Get an SBA Loan

Get small business loans from a Springfield, Illinois bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Illinois National Bank is a Springfield, Illinois small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Illinois company.

SBA Loan Borrower

COMPANY TYPE: EXCAVATION CONTRACTORS
ASHLAND, IL 62612

SBA Loan Lender

ILLINOIS NATIONAL BANK
322 E CAPITOL AVE
SPRINGFIELD, IL 62701

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

235930 - Excavation Contractors

Loan Approval Date

5/26/2005

Loan Approval Gross Amount

$76,500

Loan Approval from the SBA

Of the total $76,500 loan amount, the SBA guaranteed $65,025.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. 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.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Ashland IL, you ought to talk with a local Ashland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ashland businesses.

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 Illinois National 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.

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