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December 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Lincoln, Business Loans > State Bank Of Lincoln Lincoln Business Loans > Department Stores Loan | ||||
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Small Business Banks for Lincoln, Illinois Businesses
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State Bank Of Lincoln Gives SBA Loan to Department Stores CompanyIllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, an Illinois bank provides the loan. You can learn something about getting a small business loan in Lincoln, Illinois by studying this loan to a local business, made back in 2005. Banks like State Bank Of Lincoln may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: DEPARTMENT STORES SBA Loan Lender STATE BANK OF LINCOLN 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 452110 - Department Stores Loan Approval Date 8/9/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 9 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Lincoln 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. Related Links: How Much Venture Capital Is There? Small Business Banks in Lincoln, Illinois
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