Libertyville, Illinois Bank Gives SBA Loan to Professional And Management Development Training Company

Find Libertyville, Illinois banks that specialize in small business loans and know how to work with entrepreneurs. Libertyville Bank & Trust is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Northbrook, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Libertyville Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL AND MANAGEMENT DEVELOPMENT TRAINING
NORTHBROOK, IL 60062

SBA Loan Lender

LIBERTYVILLE BANK & TRUST
507 N MILWAUKEE AVE
LIBERTYVILLE, IL 60048

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611430 - Professional and Management Development Training

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

Banks in Libertyville, Illinois

SBA Lenders in Illinois