Testing Laboratories Loans

With these loans for testing laboratories, the SBA guarantees the lender that the loan will be repaid. This testing laboratories loan for $283,000 was given to an Illinois entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Champaign, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Heartland Bank & Trust, based in Bloomington, Illinois.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
CHAMPAIGN, IL 61822

SBA Loan Lender

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

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8734 - Testing Laboratories

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

12/15/2003

Loan Approval Gross Amount

$283,000

Loan Approval from the SBA

Of the total $283,000 loan amount, the SBA guaranteed $212,250.

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 12 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Heartland Bank & Trust and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - Friends and Family

SBA Participating Banks in Bloomington, Illinois

Illinois SBA 7A Lenders