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November 21, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Buffalo Grove, Business Loans > First Midwest Bank Buffalo Grove Business Loans > Pet And Pet Supplies Stores Loan | ||||
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Illinois SBA Banks
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Entrepreneur Works With Buffalo Grove, Illinois Bank to Get an SBA LoanThinking about meeting with a Buffalo Grove, Illinois bank about a small business loan? Here's one Illinois business loan, issued by a Buffalo Grove bank, that was approved by the SBA. Applying for an SBA loan with First Midwest Bank worked out well for our friends at one local firm in Moline, Illinois. The business was able to get an SBA loan for $100,000. Nice! SBA Loan Borrower COMPANY TYPE: PET AND PET SUPPLIES STORES SBA Loan Lender FIRST MIDWEST BANK 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 453910 - Pet and Pet Supplies Stores Loan Approval Date 2/19/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 3 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. 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 First Midwest 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 Approved Banks in Buffalo Grove, Illinois Where to Get an SBA Loan Illinois
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