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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Sycamore, Business Loans > National Bank & Trust - Sycamore Sycamore Business Loans > Services Loan | ||||
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Sycamore Bank Loan
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Sycamore, Illinois Bank Gives SBA Loan to Services CompanyThinking about meeting with a Sycamore, Illinois bank about an SBA loan? Here's one Illinois business loan, issued by a Sycamore bank, that was approved by the SBA. Applying for an SBA loan with National Bank & Trust - Sycamore worked out well for our friends at one local firm in Sycamore, Illinois. They received an SBA loan for $80,000. Way to go! SBA Loan Borrower COMPANY TYPE: SERVICES SBA Loan Lender NATIONAL BANK & TRUST - SYCAMORE This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8999 - Services NAICS Code 512210 - Record Production Loan Approval Date 7/26/2002 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. 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 33 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 - How to Decide How Much to Raise Find an SBA Lender in Sycamore, Illinois
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