Bank Loans for Armored Car Services

With these bank loans for armored car services, the SBA guarantees the lender that the loan will be repaid. This armored car services loan for $100,000 was given to an Illinois entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wadsworth, Illinois was able to borrow $100,000 from First Midwest Bank. The SBA made the loan possible by guaranteeing $85,000 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: ARMORED CAR SERVICES
WADSWORTH, IL 60083

SBA Loan Lender

FIRST MIDWEST BANK
300 N HUNT CLUB RD
GURNEE, IL 60031

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.

NAICS Code

561613 - Armored Car Services

Loan Approval Date

4/19/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Wadsworth IL, you ought to talk with a local Wadsworth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wadsworth businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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