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April 27, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Seaway Bank And Trust Company Chicago Business Loans > Job Training And Vocational Rehabilitation Service Loan | ||||
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We Needed a Business Loan in Chicago, Illinois and We Got One!
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Vocational Rehabilitation Services Commercial LoansLooking for commercial loans for vocational rehabilitation services? Try the SBA. This $60,000 vocational rehabilitation services loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chicago, Illinois was able to borrow $60,000 from Seaway Bank And Trust Company. The SBA made the loan possible by guaranteeing $51,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: JOB TRAINING AND VOCATIONAL REHABILITATION SERVICE SBA Loan Lender SEAWAY BANK AND TRUST COMPANY This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8331 - Job Training and Vocational Rehabilitation Service NAICS Code 624310 - Vocational Rehabilitation Services Loan Approval Date 2/20/2001 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Seaway Bank And Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Chicago, Illinois
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