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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mattoon, Business Loans > First Mid-Illinois Bank & Trust Mattoon Business Loans > Chiropractors Loan | ||||
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Raising Money in Champaign, Illinois With SBA Loans
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Illinois Business Loan Issued to Chiropractors CompanyLooking to get an Illinois SBA loan? This Illinois entrepreneur got an SBA loan, provided by an Illinois bank that works with the SBA to help small business owners. By giving the right information to First Mid-Illinois Bank & Trust, this Champaign, Illinois business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender FIRST MID-ILLINOIS BANK & TRUST 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 621310 - Chiropractors Loan Approval Date 5/7/2007 Loan Approval Gross Amount $75,600 Loan Approval from the SBA Of the total $75,600 loan amount, the SBA guaranteed $37,800. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Champaign or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA 7A Banks in Mattoon, Illinois Where to Get an SBA Loan Illinois
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