Business Loan from Northwest Bank & Trust Company Given to Sporting And Athletic Goods Company

Northwest Bank & Trust Company and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Moline, Illinois was able to borrow $74,700 from Northwest Bank & Trust Company. The SBA made the loan possible by guaranteeing $63,495 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND ATHLETIC GOODS
MOLINE, IL 61265

SBA Loan Lender

NORTHWEST BANK & TRUST COMPANY
100 E KIMBERLY
DAVENPORT, IA 52806

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.

SIC Code

3949 - Sporting and Athletic Goods

NAICS Code

339920 - Sporting and Athletic Goods Manufacturing

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$74,700

Loan Approval from the SBA

Of the total $74,700 loan amount, the SBA guaranteed $63,495.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 company promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northwest Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northwest Bank & Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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