Norstates Bank SBA Loan to Landscaping Services Company

An SBA loan from Norstates Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wadsworth, Illinois business owner got a $250,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Wadsworth, Illinois, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Norstates Bank, based in Round Lake Beach, Illinois.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
WADSWORTH, IL 60083

SBA Loan Lender

NORSTATES BANK
1777 N CEDAR LAKE RD
ROUND LAKE BEACH, IL 60073

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

3/24/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Realistic Debt Financing Options

SBA Approved Banks in Round Lake Beach, Illinois

SBA Illinois Lenders