Entrepreneur Works With Byron, Illinois Bank to Get an SBA Loan

Want to talk with a Byron, Illinois bank about a small business loan? Here's one Illinois business loan, issued by a Byron bank, that was approved by the SBA.

Applying for an SBA loan with Byron Bank worked out well for our friends at one local business in Rockford, Illinois. The business was able to get an SBA loan for $50,341. Awesome!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
ROCKFORD, IL 61107

SBA Loan Lender

BYRON BANK
200 N WALNUT
BYRON, IL 61010

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$50,341

Loan Approval from the SBA

Of the total $50,341 loan amount, the SBA guaranteed $42,790.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 7 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Byron, Illinois

Illinois SBA 7A Lenders