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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mcleansboro, Business Loans > Peoples National Bank Mcleansboro Business Loans > Wood Container And Pallet Manufacturing Loan | ||||
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Raising Money in Albion, Illinois With SBA Loans
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Wood Container and Pallet Manufacturing Small Business LoansWith these small business loans for wood container and pallet manufacturing, the SBA guarantees the lender that the loan will be repaid. This wood container and pallet manufacturing loan for $75,000 was given to an Illinois entrepreneur in 2006. This small firm knew how to go about getting a business bank loan. Based in Albion, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Peoples National Bank, based in Mcleansboro, Illinois. SBA Loan Borrower COMPANY TYPE: WOOD CONTAINER AND PALLET MANUFACTURING SBA Loan Lender PEOPLES NATIONAL BANK 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 321920 - Wood Container and Pallet Manufacturing Loan Approval Date 11/22/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 46 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 46 existing jobs. Getting an SBA Loan For Your 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Mcleansboro, Illinois
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