Loves Park, Illinois Entrepreneur Gets a Bank Loan

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

Getting a small business loan in Loves Park, Illinois was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from National City Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL WORK
LOVES PARK, IL 61111

SBA Loan Lender

NATIONAL CITY BANK
ONE NATIONAL CITY CENTER, STE
INDIANAPOLIS, IN 46255

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1761 - Roofing, Siding, and Sheet Metal Work

NAICS Code

235610 - Roofing, Siding, and Sheet Metal Contractors

Loan Approval Date

4/2/2002

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 National City 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:

Obtaining Funding - Friends and Family

Find an SBA Lender in Indianapolis, Indiana

SBA Lenders in Indiana