SBA Loan from Marine Bank, Springfield Helps Trucking Company

An SBA loan from Marine Bank, Springfield typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Springfield, Illinois business owner got a $57,285 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springfield, Illinois was able to borrow $57,285 from Marine Bank, Springfield. The SBA made the loan possible by guaranteeing $48,692 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
SPRINGFIELD, IL 62702

SBA Loan Lender

MARINE BANK, SPRINGFIELD
3050 W WABASH AVE
SPRINGFIELD, IL 62704

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

11/26/2003

Loan Approval Gross Amount

$57,285

Loan Approval from the SBA

Of the total $57,285 loan amount, the SBA guaranteed $48,692.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $57,285 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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Where to Get an SBA Loan in Springfield, Illinois

Getting an SBA Loan in Illinois