Lake In The Hills, Illinois Business Gets SBA-Guaranteed Funding from Midwest Bank And Trust Company

An SBA loan from Midwest Bank And Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lake In The Hills, Illinois business owner got a $150,000 loan.

Getting a small business loan in Lake In The Hills, Illinois was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Midwest Bank And Trust Company, operating out of Union, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
LAKE IN THE HILLS, IL 60156

SBA Loan Lender

MIDWEST BANK AND TRUST COMPANY
17622 DEPOT ST
UNION, IL 60180

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

NAICS Code

621111 - Physicians

Loan Approval Date

9/2/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Lake In The Hills IL, you ought to talk with a local Lake In The Hills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lake In The Hills businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Credit Evaluation

SBA 7A Banks for Union, Illinois Loans

Illinois SBA Bank Lenders