Entrepreneur Works With Evanston, Illinois Bank to Get an SBA Loan

Get to know Evanston, Illinois banks that specialize in business loans and know how to work with entrepreneurs. First Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Evanston, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
EVANSTON, IL 60201

SBA Loan Lender

FIRST BANK & TRUST
820 CHURCH ST
EVANSTON, IL 60201

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7379 - Computer Related Services

Loan Approval Date

9/8/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

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

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

If you want money for new small business in Evanston IL, you ought to talk with a local Evanston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Evanston businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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