Edwardsville, Illinois Bank Gives SBA Loan to Jewelry Stores Company

Find Edwardsville, Illinois banks that specialize in business loans and know how to work with entrepreneurs. First Clover Leaf Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
FAIRVIEW HEIGHTS, IL 62208

SBA Loan Lender

FIRST CLOVER LEAF BANK
200 E PARK ST
EDWARDSVILLE, IL 62025

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

3/14/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

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

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Clover Leaf Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

Where to Get an SBA Loan in Edwardsville, Illinois

Getting an SBA Loan in Illinois