Illinois National Bank Gives Small Business Loan to Building Finishing Contractors Company

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

Getting a small business loan in Springfield, Illinois was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Illinois National Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING FINISHING CONTRACTORS
SPRINGFIELD, IL 62701

SBA Loan Lender

ILLINOIS NATIONAL BANK
322 E CAPITOL AVE
SPRINGFIELD, IL 62701

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238390 - Building Finishing Contractors

Loan Approval Date

5/6/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 21 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 21 existing jobs.

Getting an SBA Loan For Your Business

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? 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.

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