Small Business Loans for Outpatient Mental Health and Substance Abuse Centers

With these small business loans for outpatient mental health and substance abuse centers, the SBA guarantees the lender that the loan will be repaid. This outpatient mental health and substance abuse centers loan for $50,000 was given to an Illinois entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waukegan, Illinois was able to borrow $50,000 from First American Bank. The SBA made the loan possible by guaranteeing $25,000 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: OUTPATIENT MENTAL HEALTH AND SUBSTANCE ABUSE CENTERS
WAUKEGAN, IL 60085

SBA Loan Lender

FIRST AMERICAN BANK
261 S WESTERN AVE, SPRING HIL
CARPENTERSVILLE, IL 60110

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

621420 - Outpatient Mental Health and Substance Abuse Centers

Loan Approval Date

7/18/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

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