Family Clothing Stores Commercial Loans
Looking for commercial loans for family clothing stores? Try the SBA. This $50,000 family clothing stores loan was issued by an Illinois bank.
This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bank Of Illinois, out of Normal, Illinois. The loan was granted and they received $50,000 to help grow their Normal, Illinois business.
SBA Loan Borrower
COMPANY TYPE: FAMILY CLOTHING STORES
NORMAL, IL 61761
SBA Loan Lender
BANK OF ILLINOIS
200 W COLLEGE AVE
NORMAL, IL 61761
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.
NAICS Code
448140 - Family Clothing Stores
Loan Approval Date
5/17/2005
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 an existing 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 4 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
Many small businesses receive loans backed by the U.S. Small Business Administration.
We can help you find the best banks for small businesses in Normal or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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