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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Libertyville, Business Loans > Libertyville Bank & Trust Libertyville Business Loans > Drycleaning And Laundry Services Loan | ||||
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Banks Doing SBA Loans in Illinois
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Libertyville, Illinois Bank Gives SBA Loan to Drycleaning And Laundry Services CompanyA Libertyville, Illinois small business loan can be yours. Learn how one firm got a $1,000,000 business loan from this Illinois bank. This loan to a local firm is a good example of an SBA loan. Libertyville Bank & Trust made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender LIBERTYVILLE BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 6/30/2004 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 28 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source While you may be able to borrow money from friends and family, 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. Related Links: Banks in Libertyville, Illinois
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