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May 2, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Monmouth, Business Loans > Midwest Bank - Western Illinois Monmouth Business Loans > Computer Related Services Loan | ||||
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Monmouth, Illinois SBA Banks
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Monmouth, Illinois Lender Lends Money to Computer Related Services CompanyA Monmouth, Illinois SBA loan can be yours. Learn how a company got a $50,000 business loan from this Illinois bank. This loan to a local firm is a good example of an SBA loan. Midwest Bank - Western Illinois made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender MIDWEST BANK - WESTERN ILLINOIS This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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 7379 - Computer Related Services NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 1/27/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 9 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Monmouth IL, you ought to talk with a local Monmouth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Monmouth businesses. We can help you find the best banks for small businesses in Monmouth 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: SBA Banks in Monmouth, Illinois
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