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May 10, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Oakwood, Business Loans > United Community Bank Oakwood Business Loans > Retail Nurseries, Lawn And Garden Supply Stores Loan | ||||
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Banks for Businesses in Illinois
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Local Business Gets an Illinois Business LoanLooking to get an Illinois business loan? This Illinois entrepreneur got a business loan, provided by an Illinois bank that works with the SBA to help small business owners. This small business, based in Danville, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from United Community Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES SBA Loan Lender UNITED COMMUNITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5261 - Retail Nurseries, Lawn and Garden Supply Stores NAICS Code 444210 - Outdoor Power Equipment Stores Loan Approval Date 9/14/2006 Loan Approval Gross Amount $189,000 Loan Approval from the SBA Of the total $189,000 loan amount, the SBA guaranteed $141,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Oakwood, Illinois
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