Raising Money for Limousine Service

With these bank loans for limousine service, the SBA guarantees the lender that the loan will be repaid. This limousine service loan for $40,000 was given to an Illinois entrepreneur in 2002.

Getting a small business loan in Dekalb, Illinois was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from National Bank & Trust - Sycamore, operating out of Sycamore, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL PASSENGER TRANSPORTATION, N.E.C
DEKALB, IL 60115

SBA Loan Lender

NATIONAL BANK & TRUST - SYCAMORE
230 W STATE ST
SYCAMORE, IL 60178

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4119 - Local Passenger Transportation, N.E.C

NAICS Code

485320 - Limousine Service

Loan Approval Date

2/22/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Dekalb IL, you ought to talk with a local Dekalb SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dekalb businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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SBA Participating Banks in Sycamore, Illinois

SBA Participating Banks in Illinois