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December 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bettendorf, Business Loans > Quad City Bank & Trust Bettendorf Business Loans > Physicians Loan | ||||
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Coal Valley, Illinois Bank for SBA Loans
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Coal Valley, Illinois Entrepreneur Gets a Small Business LoanIllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Iowa bank provides the loan. Getting a small business loan in Coal Valley, Illinois was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Quad City Bank & Trust. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender QUAD CITY BANK & TRUST This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 7/28/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Quad City Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 - How to Decide How Much to Raise Find an SBA Lender in Bettendorf, Iowa
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