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May 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Peoria, Business Loans > The Farmers And Mechanics Bank Peoria Business Loans > Communications Services Loan | ||||
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I Need a Small Business Loan in Bloomington, Illinois
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Loans for Cellular and WirelessLooking for loans for cellular and wireless? An SBA loan may be just what you've been looking for. This $50,000 cellular and wireless loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bloomington, Illinois was able to borrow $50,000 from The Farmers And Mechanics Bank. The SBA made the loan possible by guaranteeing $42,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: COMMUNICATIONS SERVICES SBA Loan Lender THE FARMERS AND MECHANICS BANK 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 4899 - Communications Services NAICS Code 513322 - Cellular and Wireless Loan Approval Date 3/19/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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. Related Links: A Company That Helps Entrepreneurs SBA 7A Lenders in Peoria, Illinois
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