Financing for Specialty Trade Contractors

Looking for loans for specialty trade contractors? An SBA loan may be just what you've been looking for. This $110,000 specialty trade contractors loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Mattoon, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Neighbor Bank, based in Charleston, Illinois.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
MATTOON, IL 61938

SBA Loan Lender

FIRST NEIGHBOR BANK
1415 18TH ST
CHARLESTON, IL 61920

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Mattoon IL, you ought to talk with a local Mattoon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mattoon businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $110,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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