Regions Bank Gives Small Business Loan to Jewelry Stores Company

SBA loans in Illinois are hard to find these days. We take a look at one Illinois SBA loan, provided by a Tennessee bank, that was approved by the SBA.

Getting a small business loan in Wood River, Illinois was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
WOOD RIVER, IL 62075

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5944 - Jewelry Stores

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

1/24/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Wood River IL, you ought to talk with a local Wood River SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wood River businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Regions Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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