Bank Loans for Fine Arts Schools

Looking for bank loans for fine arts schools? An SBA loan may be just what you've been looking for. This $51,000 fine arts schools loan was issued by an Illinois bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Heartland Bank & Trust, out of Pekin, Illinois. The loan was granted and they received $51,000 to help grow their Peoria, Illinois business.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
PEORIA, IL 61614

SBA Loan Lender

HEARTLAND BANK & TRUST
3400 COURT ST
PEKIN, IL 61554

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

611610 - Fine Arts Schools

Loan Approval Date

5/11/2001

Loan Approval Gross Amount

$51,000

Loan Approval from the SBA

Of the total $51,000 loan amount, the SBA guaranteed $43,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $51,000 loan. Remember, things become real when you believe you can achieve them!

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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