Firm Gets an Illinois Business Loan

Looking to get an Illinois small business loan? This Illinois entrepreneur got a small business loan, provided by an Illinois bank that works with the SBA to help small business owners.

Getting a small business loan in Columbia, Illinois was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from State Bank Of Waterloo. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
COLUMBIA, IL 62236

SBA Loan Lender

STATE BANK OF WATERLOO
885 N ILLINOIS RTE 3
WATERLOO, IL 62298

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624110 - Child and Youth Services

Loan Approval Date

1/15/2002

Loan Approval Gross Amount

$76,000

Loan Approval from the SBA

Of the total $76,000 loan amount, the SBA guaranteed $57,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source

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.

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