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May 3, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Support Activities For Transportation Loan | ||||
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SBA 7A Banks for Lake In The Hills, Illinois Small Business Owners
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Illinois Bank Loan Issued to Support Activities For Transportation CompanyWould an Illinois small business loan help your small business to grow and prosper? If so, you may want to talk with this California bank, which offers SBA loans to Illinois entrepreneurs. This business, based in Lake In The Hills, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Innovative Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: SUPPORT ACTIVITIES FOR TRANSPORTATION SBA Loan Lender INNOVATIVE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 488999 - Support Activities for Transportation Loan Approval Date 5/25/2005 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $2,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Lake In The Hills 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: Best Oakland, California Banks for Small Business
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