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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bloomington, Business Loans > Heartland Bank & Trust Bloomington Business Loans > Painting And Wall Covering Contractors Loan | ||||
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How Do We Get a Business Loan in Normal, Illinois?
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Where to Get Capital for Painting and Wall Covering ContractorsLooking for small business loans for painting and wall covering contractors? The SBA may be the answer. This $44,000 painting and wall covering contractors loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Normal, Illinois was able to borrow $44,000 from Heartland Bank & Trust. The SBA made the loan possible by guaranteeing $22,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS SBA Loan Lender HEARTLAND BANK & TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 238320 - Painting and Wall Covering Contractors Loan Approval Date 3/16/2004 Loan Approval Gross Amount $44,000 Loan Approval from the SBA Of the total $44,000 loan amount, the SBA guaranteed $22,000. 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 4 employees. The SBA loan application for the borrower indicated that the funding would help generate 4 new jobs. 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. We've showcased information on this loan to let you know that businesses like yours 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: Realistic Debt Financing Options Small Bank Loans in Bloomington, Illinois
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