Get an SBA Loan for Lawyers

With these bank loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $75,000 was given to an Illinois entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Godfrey, Illinois was able to borrow $75,000 from The Banc Ed Corp. The SBA made the loan possible by guaranteeing $63,750 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
GODFREY, IL 62035

SBA Loan Lender

THE BANC ED CORP
330 W VANDALIA
EDWARDSVILLE, IL 62025

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.

NAICS Code

541110 - Lawyers

Loan Approval Date

6/23/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $75,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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Small Business Banks in Edwardsville, Illinois

Illinois SBA Bank Lenders