Firm Gets an Illinois SBA Loan

Would an Illinois small business loan help your small business to grow and prosper? If so, you may want to talk with this Iowa bank, which offers SBA loans to Illinois entrepreneurs.

You can learn something about getting a small business loan in E. Moline, Illinois by studying this loan to a local company, made back in 2005. Banks like Quad City Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
E. MOLINE, IL 61244

SBA Loan Lender

QUAD CITY BANK & TRUST
4500 N BRADY ST
DAVENPORT, IA 52806

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

1/7/2005

Loan Approval Gross Amount

$460,000

Loan Approval from the SBA

Of the total $460,000 loan amount, the SBA guaranteed $345,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Quad City Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Debt Financing

SBA 7A Banks for Davenport, Iowa Loans

Iowa SBA Bank Lenders