Exam Preparation and Tutoring Small Business Loans

With these small business loans for exam preparation and tutoring, the SBA guarantees the lender that the loan will be repaid. This exam preparation and tutoring loan for $231,000 was given to an Illinois entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lake Villa, Illinois was able to borrow $231,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $173,250 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
Lake Villa, IL 60046

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$231,000

Loan Approval from the SBA

Of the total $231,000 loan amount, the SBA guaranteed $173,250.

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. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Lake Villa IL, you ought to talk with a local Lake Villa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lake Villa businesses.

We can help you find the best banks for small businesses in Lake Villa 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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