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December 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Edwardsville, Business Loans > First Clover Leaf Bank Edwardsville Business Loans > Lumber, Plywood, Millwork, And Wood Panel Merchant Wholesalers Loan | ||||
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SBA Lenders That Lend to Illinois Business Owners
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Illinois SBA Loan Issued to Lumber, Plywood, Millwork, And Wood Panel Merchant Wholesalers CompanyIllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, an Illinois bank provides the loan. You can learn something about getting a small business loan in Collinsville, Illinois by studying this loan to a local company, made back in 2005. Banks like First Clover Leaf Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANEL MERCHANT WHOLESALERS SBA Loan Lender FIRST CLOVER LEAF 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. NAICS Code 423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers Loan Approval Date 5/11/2005 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 only one employee. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Edwardsville, Illinois
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