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May 11, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Swansea, Business Loans > First Bank Swansea Business Loans > Schools And Educational Services Loan | ||||
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First Bank Small Business East St. Louis, Illinois
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East St. Louis, Illinois Business Gets SBA-Guaranteed Funding from First BankFirst Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in East St. Louis, Illinois, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was First Bank, based in Swansea, Illinois. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES SBA Loan Lender FIRST BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8299 - Schools and Educational Services NAICS Code 611691 - Exam Preparation and Tutoring Loan Approval Date 4/26/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 36 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in East St. Louis 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: Determining Proper Capital Structure for a Business Find an SBA Lender in Swansea, Illinois
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