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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Champaign, Business Loans > Busey Bank Champaign Business Loans > Building Equipment And Machinery Installation Contractors Loan | ||||
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Champaign, Illinois SBA Lenders
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Champaign, Illinois Lender Lends Money to Building Equipment And Machinery Installation Contractors CompanyFind Champaign, Illinois banks that specialize in business loans and know how to work with entrepreneurs. Busey Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Atwood, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Busey Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: BUILDING EQUIPMENT AND MACHINERY INSTALLATION CONTRACTORS SBA Loan Lender BUSEY BANK The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 235950 - Building Equipment and Machinery Installation Contractors Loan Approval Date 4/4/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Small Bank Loans in Champaign, Illinois SBA Participating Banks in Illinois
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