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December 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Lincoln, Business Loans > State Bank Of Lincoln Lincoln Business Loans > Services To Buildings And Dwellings Loan | ||||
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Lincoln SBA Lenders
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Lincoln, Illinois Lender Lends Money to Services To Buildings And Dwellings CompanyGet to know Lincoln, Illinois banks that specialize in SBA loans and know how to work with entrepreneurs. State Bank Of Lincoln is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Wapella, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from State Bank Of Lincoln. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS SBA Loan Lender STATE BANK OF LINCOLN This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561790 - Services to Buildings and Dwellings Loan Approval Date 5/16/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like State Bank Of Lincoln that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Banks for Small Business in Lincoln, Illinois Getting an SBA Loan in Illinois
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