Illinois Bank Loan Issued to Cosmetology And Barber Schools Company

IllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, a Texas bank provides the loan.

You can learn something about getting a small business loan in Wayne, Illinois by studying this loan to a local company, made back in 2006. Banks like Jpmorgan Chase Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COSMETOLOGY AND BARBER SCHOOLS
WAYNE, IL 60184

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

611511 - Cosmetology and Barber Schools

Loan Approval Date

12/29/2006

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are raising money in Wayne IL, you ought to talk with a local Wayne SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wayne businesses.

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.

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