Local Business Gets an Illinois Small Business Loan

Searching for an Illinois business loan? This Illinois entrepreneur got a business loan, provided by an Illinois bank that works with the SBA to help small business owners.

Getting a small business loan in Beardstown, Illinois was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Marine Bank, Springfield. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
BEARDSTOWN, IL 62618

SBA Loan Lender

MARINE BANK, SPRINGFIELD
3050 W WABASH AVE
SPRINGFIELD, IL 62704

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/16/2006

Loan Approval Gross Amount

$169,500

Loan Approval from the SBA

Of the total $169,500 loan amount, the SBA guaranteed $127,125.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Beardstown IL, you ought to talk with a local Beardstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Beardstown businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Marine Bank, Springfield 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:

Debt Financing

SBA Approved Banks in Springfield, Illinois

Getting a Business Loan in Illinois