Decatur, Illinois Entrepreneur Gets an SBA Loan
Searching for an Illinois business loan? This Illinois entrepreneur got a business loan, provided by an Illinois bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Decatur, Illinois by studying this loan to a local business, made back in 2005. Banks like National City Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: APPLIANCE REPAIR AND MAINTENANCE
Decatur, IL 62521
SBA Loan Lender
NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015
The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811412 - Appliance Repair and Maintenance
Loan Approval Date
4/22/2005
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $20,000.
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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.
Next Steps for Getting an SBA Loan
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 source of funding.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.
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 Lenders in Illinois