Financing for Heating Equipment Manufacturing

With these commercial loans for heating equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This heating equipment manufacturing loan for $72,000 was given to an Illinois entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Bloomington, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Farmer City State Bank, based in Farmer City, Illinois.

SBA Loan Borrower

COMPANY TYPE: HEATING EQUIPMENT
BLOOMINGTON, IL 61702

SBA Loan Lender

FARMER CITY STATE BANK
333 S MAIN ST
FARMER CITY, IL 61842

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3433 - Heating Equipment

NAICS Code

333414 - Heating Equipment Manufacturing

Loan Approval Date

7/11/2001

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Farmer City State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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