Photofinishing Laboratories Business Loans

Looking for business loans for photofinishing laboratories? Try the SBA. This $127,440 photofinishing laboratories loan was issued by an Illinois bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Morton Community Bank, out of Morton, Illinois. The loan was granted and they received $127,440 to help grow their Eureka, Illinois business.

SBA Loan Borrower

COMPANY TYPE: PHOTOFINISHING LABORATORIES
EUREKA, IL 61530

SBA Loan Lender

MORTON COMMUNITY BANK
721 W JACKSON ST
MORTON, IL 61550

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7384 - Photofinishing Laboratories

NAICS Code

812921 - Photofinishing Laboratories

Loan Approval Date

8/7/2002

Loan Approval Gross Amount

$127,440

Loan Approval from the SBA

Of the total $127,440 loan amount, the SBA guaranteed $108,324.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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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