Loans for Accounting Services

Looking for loans for accounting services? Talk to a banker who works with the SBA. This $40,000 accounting services loan was issued by an Illinois bank.

This company knew how to go about getting a business bank loan. Based in South Holland, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Park National Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: ACCOUNTING SERVICES
SOUTH HOLLAND, IL 60473

SBA Loan Lender

PARK NATIONAL BANK
801 N CLARK ST
CHICAGO, IL 60610

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541219 - Accounting Services

Loan Approval Date

9/23/2005

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $40,000 loan. Remember, feel the fear, and do it anyway.

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:

The Friends and Family Network

Best Chicago, Illinois Banks for Small Business

Illinois SBA 7A Lenders