Illinois Bank Loan Issued to Lawn And Garden Services Company

SBA loans in Illinois are hard to find these days. We take a look at one Illinois SBA loan, provided by an Illinois bank, that was approved by the SBA.

This company, based in Kankakee, 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 1st National Bank - Grant Pk. We've got the inside scoop on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN SERVICES
KANKAKEE, IL 60901

SBA Loan Lender

1ST NATIONAL BANK - GRANT PK
119 N MAIN ST
GRANT PARK, IL 60940

This lender issued this particular SBA small business 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

4/1/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank - Grant Pk 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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