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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Albion, Business Loans > Citizens National Bank - Albion Albion Business Loans > Oil And Gas Field Exploration Services Loan | ||||
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Albion SBA Lenders
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Albion, Illinois Lender Lends Money to Oil And Gas Field Exploration Services CompanyAn Albion, Illinois SBA loan can be yours. Learn how a company got a $100,000 business loan from this Illinois bank. This loan to a local firm is a good example of an SBA loan. Citizens National Bank - Albion made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD EXPLORATION SERVICES SBA Loan Lender CITIZENS NATIONAL BANK - ALBION This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1382 - Oil and Gas Field Exploration Services NAICS Code 213112 - Support Activities for Oil and Gas Operations Loan Approval Date 6/7/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Albion, Illinois
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