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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Green Bay, Business Loans > Associated Bank Green Bay Business Loans > Chiropractors Loan | ||||
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Associated Bank South Elgin, Illinois
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Associated Bank SBA Loan to Chiropractors CompanyAn SBA loan from Associated Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a South Elgin, Illinois business owner got a $201,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Elgin, Illinois was able to borrow $201,000 from Associated Bank. The SBA made the loan possible by guaranteeing $100,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender ASSOCIATED BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 621310 - Chiropractors Loan Approval Date 11/7/2007 Loan Approval Gross Amount $201,000 Loan Approval from the SBA Of the total $201,000 loan amount, the SBA guaranteed $100,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Approved Banks in Green Bay, Wisconsin Getting an SBA Loan in Wisconsin
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