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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 > Eating Places Loan | ||||
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Springfield, Illinois Bank Loan
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Small Business Loans for Hotels and MotelsLooking for small business loans for hotels and motels? Talk to a banker who works with the SBA. This $120,000 hotels and motels loan was issued by an Illinois bank. Getting a small business loan in Springfield, Illinois was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Illinois National Bank, operating out of Springfield, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender ILLINOIS NATIONAL BANK This loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 721110 - Hotels and Motels Loan Approval Date 2/27/2003 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $90,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 50 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Obtaining Funding - Friends and Family SBA Participating Banks in Springfield, Illinois
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