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May 2, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Single Family Housing Construction Loan | ||||
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Johnston City, Illinois Bank Loan
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Commercial Loans for Single Family Housing ConstructionWith these commercial loans for single family housing construction, the SBA guarantees the lender that the loan will be repaid. This single family housing construction loan for $25,000 was given to an Illinois entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Johnston City, Illinois was able to borrow $25,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $21,250 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION SBA Loan Lender INNOVATIVE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 233210 - Single Family Housing Construction Loan Approval Date 9/22/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Who Lends Money to Small Businesses in Oakland, California SBA Participating Banks in California
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