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December 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bloomington, Business Loans > Regions Bank Bloomington Business Loans > Jewelry Stores Loan | ||||
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SBA Loan from Regions Bank
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Regions Bank SBA Loan to Jewelry Stores CompanyRegions Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Champaign, Illinois, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Regions Bank, based in Bloomington, Illinois. SBA Loan Borrower COMPANY TYPE: JEWELRY STORES SBA Loan Lender REGIONS BANK 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. SIC Code 5944 - Jewelry Stores NAICS Code 448310 - Jewelry Stores Loan Approval Date 3/30/2000 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $72,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA Banks in Bloomington, Illinois
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