Business Loan from First Bank & Trust Given to School And Employee Bus Transportation Company

First Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Evanston, Illinois was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Bank & Trust, operating out of Evanston, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOL AND EMPLOYEE BUS TRANSPORTATION
EVANSTON, IL 60201

SBA Loan Lender

FIRST BANK & TRUST
820 CHURCH ST
EVANSTON, IL 60201

This business 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

485410 - School and Employee Bus Transportation

Loan Approval Date

3/7/2003

Loan Approval Gross Amount

$293,000

Loan Approval from the SBA

Of the total $293,000 loan amount, the SBA guaranteed $219,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 30 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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