Ambulatory Health Care Services Business Loans

With these business loans for ambulatory health care services, the SBA guarantees the lender that the loan will be repaid. This ambulatory health care services loan for $85,520 was given to an Illinois entrepreneur in 2004.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Belvidere National Bank & Trust, out of Belvidere, Illinois. The loan was granted and they received $85,520 to help grow their Byron, Illinois business.

SBA Loan Borrower

COMPANY TYPE: AMBULATORY HEALTH CARE SERVICES
BYRON, IL 61010

SBA Loan Lender

BELVIDERE NATIONAL BANK & TRUST
600 S STATE ST
BELVIDERE, IL 61008

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621999 - Ambulatory Health Care Services

Loan Approval Date

2/26/2004

Loan Approval Gross Amount

$85,520

Loan Approval from the SBA

Of the total $85,520 loan amount, the SBA guaranteed $72,692.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Byron IL, you ought to talk with a local Byron SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Byron businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Choosing VC Firms

Where to Get an SBA Loan in Belvidere, Illinois

SBA Participating Banks in Illinois