Homewood, Illinois Entrepreneur Gets a Business Loan

Would an Illinois business loan help your company expand? If so, you may want to talk with this Ohio bank, which offers SBA loans to Illinois entrepreneurs.

This small business, based in Homewood, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Rbs Citizens. We've got the inside scoop on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING SERVICES
HOMEWOOD, IL 60430

SBA Loan Lender

RBS CITIZENS
1215 SUPERIOR AVE
CLEVELAND, OH 44114

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

3/22/2005

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

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 SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Homewood or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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