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May 5, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Sycamore, Business Loans > National Bank & Trust - Sycamore Sycamore Business Loans > Management Consulting Services Loan | ||||
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Banks for Hinckley, Illinois Business Owners
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National Bank & Trust - Sycamore Gives SBA Loan to Management Consulting Services CompanyBank loans in Illinois are are few and far betweeen these days. We take a look at one Illinois bank loan, provided by an Illinois bank, that was approved by the SBA. By giving the right information to National Bank & Trust - Sycamore, this Hinckley, Illinois business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MANAGEMENT CONSULTING SERVICES SBA Loan Lender NATIONAL BANK & TRUST - SYCAMORE This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8742 - Management Consulting Services NAICS Code 541614 - Process, Physical Distribution, and Logistics Consulting Services Loan Approval Date 1/7/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need business start up money in Hinckley IL, you ought to talk with a local Hinckley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hinckley businesses. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from National Bank & Trust - Sycamore so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Participating Banks in Sycamore, Illinois
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