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

Thinking about meeting with a Swansea, Illinois bank about an SBA loan? Here's one Illinois business loan, issued by a Swansea bank, that was approved by the SBA.

Applying for an SBA loan with First Bank worked out well for our friends at one local business in Fairview Heights, Illinois. The business was able to get an SBA loan for $65,000. Great job!

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
FAIRVIEW HEIGHTS, IL 62208

SBA Loan Lender

FIRST BANK
4387 N ILLINOIS ST
SWANSEA, IL 62226

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

9/16/2002

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

We can help you find the best banks for small businesses in Fairview Heights or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Credit Cards

Where to Get an SBA Loan in Swansea, Illinois

Illinois SBA Bank Lenders