Get an SBA Loan for Water Supply and Irrigation Systems
Looking for small business loans for water supply and irrigation systems? Try the SBA. This $100,000 water supply and irrigation systems loan was issued by an Illinois bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Moweagua, Illinois was able to borrow $100,000 from Regions Bank. The SBA made the loan possible by guaranteeing $85,000 of this Illinois small business loan.
SBA Loan Borrower
COMPANY TYPE: WATER SUPPLY
MOWEAGUA, IL 62550
SBA Loan Lender
REGIONS BANK
100 S WATER ST
DECATUR, IL 62523
This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
4941 - Water Supply
NAICS Code
221310 - Water Supply and Irrigation Systems
Loan Approval Date
3/5/2002
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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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