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May 9, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Olympia Fields, Business Loans > Bankfinancial, Fsb Olympia Fields Business Loans > Tax Return Preparation Services Loan | ||||
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Schaumburg SBA Loans
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Schaumburg, Illinois Entrepreneur Gets a Small Business LoanWould an Illinois SBA loan help your business get to the next level? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs. By giving the right information to Bankfinancial, Fsb, this Schaumburg, Illinois business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: TAX RETURN PREPARATION SERVICES SBA Loan Lender BANKFINANCIAL, FSB This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7291 - Tax Return Preparation Services NAICS Code 541213 - Tax Preparation Services Loan Approval Date 1/29/2001 Loan Approval Gross Amount $14,000 Loan Approval from the SBA Of the total $14,000 loan amount, the SBA guaranteed $11,900. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bankfinancial, Fsb are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Olympia Fields, Illinois
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