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April 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Aurora, Business Loans > First Midwest Bank Aurora Business Loans > World Inspection Network (win- Loan | ||||
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Business Loans for Naperville Entrepreneurs
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Naperville, IL Entrepreneur Gets SBA Loan to Buy World Inspection Network FranchiseNeed money to invest in a World Inspection Network franchise? First Midwest Bank has a history of making these loans and they are guaranteed by the SBA. World Inspection Network franchise loans are available to Naperville, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Midwest Bank, based in Aurora, Illinois, issued an SBA franchise loan for a World Inspection Network franchise in 2004. We've got all the details on this Illinois small business loan. SBA Loan Borrower WORLD INSPECTION NETWORK (WIN- SBA Loan Lender FIRST MIDWEST BANK 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. NAICS Code 541350 - Building Inspection Services Loan Approval Date 6/23/2004 Loan Approval Gross Amount $64,000 Loan Approval from the SBA Of the total $64,000 loan amount, the SBA guaranteed $54,400. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a World Inspection Network franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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: World Inspection Network: Home Inspection Service SBA Approved Banks in Aurora, Illinois
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