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December 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Aurora, Business Loans > Old Second National Bank Aurora Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Banks for Naperville, Illinois Entrepreneurs
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Fitness and Recreational Sports Centers Commercial LoansWith these commercial loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $50,000 was given to an Illinois entrepreneur in 2004. Getting a small business loan in Naperville, Illinois was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Old Second National Bank, operating out of Aurora, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender OLD SECOND NATIONAL BANK This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 11/29/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 12 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Old Second National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Old Second National Bank 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. Related Links: Obtaining Funding - Getting Venture Capital
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