Landscaping Services Small Business Loans
Looking for small business loans for landscaping services? An SBA loan may be just what you've been looking for. This $205,400 landscaping services loan was issued by an Illinois bank.
This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First American Bank, out of Elk Grove Village, Illinois. The loan was granted and they received $205,400 to help grow their Chicago, Illinois business.
SBA Loan Borrower
COMPANY TYPE: LANDSCAPING SERVICES
CHICAGO, IL 60626
SBA Loan Lender
FIRST AMERICAN BANK
1650 LOUIS AVE
ELK GROVE VILLAGE, IL 60007
This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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
561730 - Landscaping Services
Loan Approval Date
4/13/2006
Loan Approval Gross Amount
$205,400
Loan Approval from the SBA
Of the total $205,400 loan amount, the SBA guaranteed $154,050.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 12 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you are wondering how to raise money for a business in Chicago IL, you ought to talk with a local Chicago SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chicago businesses.
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.
Related Links:
Microlending as a Small Business Funding Source
SBA 7A Banks in Elk Grove Village, Illinois
Illinois SBA 7A Banks