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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Alpha, Business Loans > Farmers St. Bank - Western Illin Alpha Business Loans > Drinking Places Loan | ||||
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Aledo Business Loans from Farmers St. Bank - Western Illin
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Aledo, Illinois Business Gets SBA-Guaranteed Funding from Farmers St. Bank - Western IllinAn SBA loan from Farmers St. Bank - Western Illin typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Aledo, Illinois business owner got a $85,500 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aledo, Illinois was able to borrow $85,500 from Farmers St. Bank - Western Illin. The SBA made the loan possible by guaranteeing $72,675 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender FARMERS ST. BANK - WESTERN ILLIN 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. NAICS Code 722410 - Drinking Places Loan Approval Date 3/24/2005 Loan Approval Gross Amount $85,500 Loan Approval from the SBA Of the total $85,500 loan amount, the SBA guaranteed $72,675. 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 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers St. Bank - Western Illin had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers St. Bank - Western Illin made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 7A Banks in Alpha, Illinois
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