Business Loan from First Mid-Illinois Bank & Trust Given to Pharmacies And Drug Stores Company

An SBA loan from First Mid-Illinois Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Arcola, Illinois business owner got a $98,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Arcola, Illinois, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was First Mid-Illinois Bank & Trust, based in Mattoon, Illinois.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
ARCOLA, IL 61910

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
1515 CHARLESTON AVE
MATTOON, IL 61938

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

446110 - Pharmacies and Drug Stores

Loan Approval Date

8/1/2007

Loan Approval Gross Amount

$98,000

Loan Approval from the SBA

Of the total $98,000 loan amount, the SBA guaranteed $49,000.

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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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