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May 2, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Danville, Business Loans > Old National Bank Danville Business Loans > Right At Home Of Illiana, Inc Loan | ||||
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How to Get SBA Loans in Danville, Illinois
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Borrow Money to Buy a Right At Home FranchiseNeed a loan to buy a Right At Home franchise? Old National Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Danville, Illinois and are interested in buying a Right At Home franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Old National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower RIGHT AT HOME OF ILLIANA, INC SBA Loan Lender OLD NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624120 - Services for the Elderly and Persons with Disabilities Loan Approval Date 9/16/2005 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. This loan was used to buy a Right At Home franchise. At the time of the loan, the company had 40 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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 Danville 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: How Much Venture Capital Is There? Find an SBA Lender in Danville, Illinois
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