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May 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Full-Service Restaurants Loan | ||||
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Wood River SBA Loans
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Firm Gets an Illinois Small Business LoanSmall business loans in Illinois are hard to find these days. We take a look at one Illinois small business loan, provided by a Texas bank, that was approved by the SBA. You can learn something about getting a small business loan in Wood River, Illinois by studying this loan to a local company, made back in 2006. Banks like Small Business Loan Source LLC may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/12/2006 Loan Approval Gross Amount $624,000 Loan Approval from the SBA Of the total $624,000 loan amount, the SBA guaranteed $468,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help create 8 new jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Small Business Loan Source LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Advice on Getting a Small Business Loan SBA Participating Banks in Houston, Texas
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