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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Litchfield, Business Loans > Home State Bank Litchfield Business Loans > Family Clothing Stores Loan | ||||
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Home State Bank Business Loans
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Family Clothing Stores Business LoansLooking for business loans for family clothing stores? Talk to a banker who works with the SBA. This $100,000 family clothing stores loan was issued by a Minnesota bank. This small business knew how to go about getting a business bank loan. Based in Libertyville, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Home State Bank, based in Litchfield, Minnesota. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender HOME STATE BANK The lender provided this SBA 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 448140 - Family Clothing Stores Loan Approval Date 8/5/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Home State Bank and they will explain how you can get an SBA loan for your company. 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: Role of Business Plan When Raising Money SBA Banks in Litchfield, Minnesota
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