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May 16, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Springfield, Business Loans > Illinois National Bank Springfield Business Loans > Direct Selling Establishments Loan | ||||
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Getting a Small Business Loan in Springfield, Illinois
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Springfield, Illinois Entrepreneur Gets a Bank LoanSearching for an Illinois bank loan? This Illinois entrepreneur got a bank loan, provided by an Illinois bank that works with the SBA to help small business owners. Getting a small business loan in Springfield, Illinois was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Illinois National Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender ILLINOIS NATIONAL 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 454390 - Direct Selling Establishments Loan Approval Date 9/5/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 indicated that the borrowed money would help generate 2 new jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Springfield IL, you ought to talk with a local Springfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Springfield businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Illinois National Bank 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: Who Lends Money to Small Businesses in Springfield, Illinois Getting a Business Loan in Illinois
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