SBA Loan from The National Bank Helps Bowling Centers Company
An SBA loan from The National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mount Carroll, Illinois business owner got a $115,000 loan.
This growing company knew how to go about getting a business bank loan. Based in Mount Carroll, Illinois, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was The National Bank, based in Mount Carroll, Illinois.
SBA Loan Borrower
COMPANY TYPE: BOWLING CENTERS
MOUNT CARROLL, IL 61053
SBA Loan Lender
THE NATIONAL BANK
642 S EAST ST
MOUNT CARROLL, IL 61053
This was a Low Documentation SBA loan. The SBA launched this program to limit 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.
NAICS Code
713950 - Bowling Centers
Loan Approval Date
6/2/2005
Loan Approval Gross Amount
$115,000
Loan Approval from the SBA
Of the total $115,000 loan amount, the SBA guaranteed $97,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from The National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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 From a Venture Capitalist
Where to Get an SBA Loan in Mount Carroll, Illinois
Illinois SBA Banks