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May 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Farmer City, Business Loans > Farmer City State Bank Farmer City Business Loans > Lawn And Garden Services Loan | ||||
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SBA 7A Banks for Le Roy Business Owners
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Illinois Small Business Loan Issued to Lawn And Garden Services CompanyBusiness loans in Illinois are are few and far betweeen these days. We take a look at one Illinois business loan, provided by an Illinois bank, that was approved by the SBA. This company, based in Le Roy, 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 Farmer City State Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN SERVICES SBA Loan Lender FARMER CITY STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0782 - Lawn and Garden Services NAICS Code 561730 - Landscaping Services Loan Approval Date 4/20/2001 Loan Approval Gross Amount $99,000 Loan Approval from the SBA Of the total $99,000 loan amount, the SBA guaranteed $84,150. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $99,000 loan. Remember, if it to be, it is up to me! 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: Realistic Debt Financing Options Best Farmer City, Illinois Banks for Small Business
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