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November 21, 2024  
 
 
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SBA Lender South Holland Illinois

 

 
Loan Census SBA Loan Info

South Holland, Illinois Entrepreneur Gets a Small Business Loan

SBA loans in Illinois are hard to find these days. We take a look at one Illinois SBA loan, provided by a California bank, that was approved by the SBA.

This company, based in South Holland, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Superior Financial Group, LLC. We've got the inside scoop on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PERFORMING ARTS COMPANIES
SOUTH HOLLAND, IL 60473

SBA Loan Lender

SUPERIOR FINANCIAL GROUP, LLC
165 LENNON LANE, SUITE 101
WALNUT CREEK, CA 94598

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711190 - Performing Arts Companies

Loan Approval Date

9/6/2007

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $4,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 documents indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Superior Financial Group, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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