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November 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Swansea, Business Loans > First Bank Swansea Business Loans > Grocery Stores Loan | ||||
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Getting a Small Business Loan in Belleville, Illinois
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First Bank Gives Bank Loan to Grocery Stores CompanyIllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, an Illinois bank provides the loan. This small business, based in Belleville, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender FIRST BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 9/12/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 36 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 for Small Business in Swansea, Illinois
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