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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Round Lake Beach, Business Loans > Norstates Bank Round Lake Beach Business Loans > Carpets And Rugs Loan | ||||
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Norstates Bank Business Loans
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Carpet and Rug Mills Bank LoansLooking for bank loans for carpet and rug mills? Talk to a banker who works with the SBA. This $85,000 carpet and rug mills loan was issued by an Illinois bank. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Norstates Bank, out of Round Lake Beach, Illinois. The loan was granted and they received $85,000 to help grow their Gurnee, Illinois business. SBA Loan Borrower COMPANY TYPE: CARPETS AND RUGS SBA Loan Lender NORSTATES BANK 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 2273 - Carpets and Rugs NAICS Code 314110 - Carpet and Rug Mills Loan Approval Date 2/11/2003 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. 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 5 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Norstates 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: Banks in Round Lake Beach, Illinois
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