Baked Goods Stores Bank Loans

Looking for bank loans for baked goods stores? An SBA loan may be just what you've been looking for. This $43,500 baked goods stores loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Altamont, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Mid-Illinois Bank & Trust, based in Altamont, Illinois.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
ALTAMONT, IL 62411

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
101 W WASHINGTON AVE
ALTAMONT, IL 62411

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

3/19/2001

Loan Approval Gross Amount

$43,500

Loan Approval from the SBA

Of the total $43,500 loan amount, the SBA guaranteed $36,975.

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 did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Altamont IL, you ought to talk with a local Altamont SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Altamont businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Mid-Illinois Bank & Trust and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Altamont, Illinois

Illinois SBA 7A Lenders