Financing for Veterinary Services

With these loans for veterinary services, the SBA guarantees the lender that the loan will be repaid. This veterinary services loan for $444,468 was given to an Illinois entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Buffalo Grove, Illinois was able to borrow $444,468 from First American Bank. The SBA made the loan possible by guaranteeing $333,351 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
BUFFALO GROVE, IL 60089

SBA Loan Lender

FIRST AMERICAN BANK
1650 LOUIS AVE
ELK GROVE VILLAGE, IL 60007

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

4/10/2002

Loan Approval Gross Amount

$444,468

Loan Approval from the SBA

Of the total $444,468 loan amount, the SBA guaranteed $333,351.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First American Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First American Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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