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May 11, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Edwardsville, Business Loans > The Bank Of Edwardsville Edwardsville Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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How to Get a Small Business Loan from The Bank Of Edwardsville
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The Bank Of Edwardsville SBA Loan to Motor Vehicle Supplies And New Parts CompanyThe Bank Of Edwardsville is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Collinsville, Illinois was able to borrow $76,000 from The Bank Of Edwardsville. The SBA made the loan possible by guaranteeing $60,800 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender THE BANK OF EDWARDSVILLE This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 12/22/2000 Loan Approval Gross Amount $76,000 Loan Approval from the SBA Of the total $76,000 loan amount, the SBA guaranteed $60,800. 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Bank Of Edwardsville and they will explain how you can get an SBA loan for your company. 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: Who Lends Money to Small Businesses in Edwardsville, Illinois
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