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December 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Geneva, Business Loans > First Choice Bank Geneva Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Illinois Bank SBA Loans
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Business Loan from First Choice Bank Given to Plumbing, Heating, And Air-Conditioning Contractors CompanyAn SBA loan from First Choice Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sycamore, Illinois business owner got a $420,000 loan. Getting a small business loan in Sycamore, Illinois was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Choice Bank, operating out of Geneva, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender FIRST CHOICE BANK When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program aims to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 6/17/2005 Loan Approval Gross Amount $420,000 Loan Approval from the SBA Of the total $420,000 loan amount, the SBA guaranteed $315,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 50 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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 $420,000 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: Obtaining Funding - How to Decide How Much to Raise Who Lends Money to Small Businesses in Geneva, Illinois
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