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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Crystal Lake, Business Loans > Home St. Bank/natl Association Crystal Lake Business Loans > Home Health Care Services Loan | ||||
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Illinois Bank SBA Loans
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Crystal Lake, Illinois Bank Gives SBA Loan to Home Health Care Services CompanyFind Crystal Lake, Illinois banks that specialize in small business loans and know how to work with entrepreneurs. Home St. Bank/natl Association is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Cary, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Home St. Bank/natl Association. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: HOME HEALTH CARE SERVICES SBA Loan Lender HOME ST. BANK/NATL ASSOCIATION 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 8082 - Home Health Care Services NAICS Code 621610 - Home Health Care Services Loan Approval Date 7/23/2001 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. 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 45 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Home St. Bank/natl Association and they will explain how you can get an SBA loan for your company. 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: Best Banks in Crystal Lake, Illinois
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