Financing for Personal Services

Looking for loans for personal services? An SBA loan may be just what you've been looking for. This $150,000 personal services loan was issued by an Illinois bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with National City Bank, out of Bannockburn, Illinois. The loan was granted and they received $150,000 to help grow their Mount Prospect, Illinois business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
Mount Prospect, IL 60056

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812990 - Personal Services

Loan Approval Date

12/6/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Mount Prospect IL, you ought to talk with a local Mount Prospect SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mount Prospect businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 - How to Borrow Money

SBA Participating Banks in Bannockburn, Illinois

Illinois SBA 7A Lenders