Get an SBA Loan for Jewelry Stores

With these small business loans for jewelry stores, the SBA guarantees the lender that the loan will be repaid. This jewelry stores loan for $150,500 was given to an Illinois entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Bank, out of Red Bud, Illinois. The loan was granted and they received $150,500 to help grow their Red Bud, Illinois business.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
RED BUD, IL 62278

SBA Loan Lender

FIRST BANK
1411 S MAIN ST
RED BUD, IL 62278

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5944 - Jewelry Stores

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

12/13/2004

Loan Approval Gross Amount

$150,500

Loan Approval from the SBA

Of the total $150,500 loan amount, the SBA guaranteed $112,875.

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 3 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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