Business Loan from Regions Bank Given to Industrial Organic Chemicals, N.E.C Company

An SBA loan from Regions Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Collinsville, Illinois business owner got a $80,000 loan.

Getting a small business loan in Collinsville, Illinois was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank, operating out of Memphis, Tennessee. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL ORGANIC CHEMICALS, N.E.C
COLLINSVILLE, IL 62234

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

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

2869 - Industrial Organic Chemicals, N.E.C

NAICS Code

325110 - Petrochemical Manufacturing

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Regions Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Regions 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.

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