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May 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Springfield, Business Loans > Marine Bank, Springfield Springfield Business Loans > Repair Shops And Related Services Loan | ||||
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Marine Bank, Springfield
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Springfield, Illinois Business Gets SBA-Guaranteed Funding from Marine Bank, SpringfieldMarine Bank, Springfield has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springfield, Illinois was able to borrow $31,000 from Marine Bank, Springfield. The SBA made the loan possible by guaranteeing $26,350 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender MARINE BANK, SPRINGFIELD This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services NAICS Code 562991 - Septic Tank and Related Services Loan Approval Date 2/12/2003 Loan Approval Gross Amount $31,000 Loan Approval from the SBA Of the total $31,000 loan amount, the SBA guaranteed $26,350. 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 3 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Bank Loans in Springfield, Illinois Browse All Business Loan Sources for Illinois
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