Forsyth, IL Entrepreneur Gets SBA Loan to Buy Spring-Green Lawn Care Franchise

Borrowing money to invest in a Spring-Green Lawn Care franchise? Busey Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Forsyth, Illinois needed money to invest in a Spring-Green Lawn Care franchise back in 2003. Busey Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

SPRING GREEN LAWN CARE
FORSYTH, IL 62535

SBA Loan Lender

BUSEY BANK
130 N WATER ST
DECATUR, IL 62523

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0782 - Lawn and Garden Services

NAICS Code

561730 - Landscaping Services

Loan Approval Date

10/31/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Spring-Green Lawn Care franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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 Busey Bank 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.

Related Links:

Spring-Green Lawn Care Corp.

Small Business Loan

SBA 7A Banks for Decatur, Illinois Loans

Illinois SBA Banks