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May 12, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Belleville, Business Loans > Bank Of New Glarus Belleville Business Loans > Store Retailers Loan | ||||
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Small Business Loans from Bank Of New Glarus
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SBA Loan from Bank Of New Glarus Helps Store Retailers CompanyBank Of New Glarus has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Of New Glarus, out of Belleville, Wisconsin. The loan was granted and they received $110,000 to help grow their Freeport, Illinois business. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender BANK OF NEW GLARUS This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453998 - Store Retailers Loan Approval Date 3/16/2004 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. 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 only one employee. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Business Banks in Belleville, Wisconsin
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