Heartland Bank & Trust Gives Business Loan to Landscaping Services Company

Want an Illinois business loan? This Illinois entrepreneur got a business loan, provided by an Illinois bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Bloomington, Illinois by studying this loan to a local business, made back in 2005. Banks like Heartland Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
BLOOMINGTON, IL 61704

SBA Loan Lender

HEARTLAND BANK & TRUST
401 N HERSHEY RD
BLOOMINGTON, IL 61704

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

3/11/2005

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Getting a Small Business Loan

SBA Banks in Bloomington, Illinois

Getting a Business Loan in Illinois