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May 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Pecatonica, Business Loans > German-American State Bank Pecatonica Business Loans > Loan Brokers Loan | ||||
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Banks Doing SBA Loans in Illinois
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Pecatonica, Illinois Lender Lends Money to Loan Brokers CompanyThinking about meeting with a Pecatonica, Illinois bank about an SBA loan? Here's one Illinois business loan, issued by a Pecatonica bank, that was approved by the SBA. Applying for an SBA loan with German-American State Bank worked out well for our friends at one local firm in Rockford, Illinois. They got an SBA loan for $50,000. Awesome! SBA Loan Borrower COMPANY TYPE: LOAN BROKERS SBA Loan Lender GERMAN-AMERICAN STATE BANK 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. SIC Code 6163 - Loan Brokers NAICS Code 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 5/16/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 4 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. We can help you find the best banks for small businesses in Rockford 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: Dealing With Venture Capitalists SBA 7A Banks in Pecatonica, Illinois
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