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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Springfield, Business Loans > Marine Bank, Springfield Springfield Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Illinois Small Business SBA Loans
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Company Gets an Illinois SBA 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. This company, based in Springfield, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Marine Bank, Springfield. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender MARINE BANK, SPRINGFIELD 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 713940 - Fitness and Recreational Sports Centers Loan Approval Date 2/22/2007 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We can help you find the best banks for small businesses in Springfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 for Small Business in Springfield, Illinois
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