SBA Loan from Bank Of The Southwest Helps Insurance Agencies And Brokerages Company

An SBA loan from Bank Of The Southwest typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Farmer City, Illinois business owner got a $31,100 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Farmer City, Illinois was able to borrow $31,100 from Bank Of The Southwest. The SBA made the loan possible by guaranteeing $15,550 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
FARMER CITY, IL 61842

SBA Loan Lender

BANK OF THE SOUTHWEST
226 N MAIN ST
ROSWELL, NM 88202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

1/28/2005

Loan Approval Gross Amount

$31,100

Loan Approval from the SBA

Of the total $31,100 loan amount, the SBA guaranteed $15,550.

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 documents indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The Southwest are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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