Get an SBA Loan for Telecommunications

With these loans for telecommunications, the SBA guarantees the lender that the loan will be repaid. This telecommunications loan for $150,000 was given to an Illinois entrepreneur in 2003.

Getting a small business loan in Crystal Lake, Illinois was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Midwest Bank, operating out of Crystal Lake, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMUNICATIONS SERVICES
CRYSTAL LAKE, IL 60014

SBA Loan Lender

FIRST MIDWEST BANK
170 N ROUTE 31
CRYSTAL LAKE, IL 60014

This lender issued this particular commercial 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.

SIC Code

4899 - Communications Services

NAICS Code

513390 - Telecommunications

Loan Approval Date

2/20/2003

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 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 only one employee. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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