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May 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Raising Money in Berwyn, Illinois With SBA Loans
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Growing Company Gets an Illinois Bank LoanSearching for an Illinois bank loan? This Illinois entrepreneur got a bank loan, provided by a Rhode Island bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Berwyn, Illinois by studying this loan to a local company, made back in 2004. Banks like Rbs Citizens may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender RBS CITIZENS 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 10/12/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs. Next Steps for Getting an SBA Loan If you are raising money in Berwyn IL, you ought to talk with a local Berwyn SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Berwyn businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Rbs Citizens and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Providence, Rhode Island
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