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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mc Henry, Business Loans > Amer Commun Bank & Tr Mc Henry Business Loans > Eating Places Loan | ||||
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Business Loan from Amer Commun Bank & Tr
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Mchenry, Illinois Business Gets SBA-Guaranteed Funding from Amer Commun Bank & TrAn SBA loan from Amer Commun Bank & Tr typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mchenry, Illinois business owner got a $100,000 loan. This business knew how to go about getting a business bank loan. Based in Mchenry, Illinois, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Amer Commun Bank & Tr, based in Mc Henry, Illinois. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender AMER COMMUN BANK & TR This lender issued this particular SBA 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/14/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Amer Commun Bank & Tr that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Banks in Mc Henry, Illinois Getting a Business Loan in Illinois
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