Business Loan from First Mid-Illinois Bank & Trust Given to Durable Goods Company

First Mid-Illinois Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

Getting a small business loan in Breese, Illinois was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Mid-Illinois Bank & Trust, operating out of Highland, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS
BREESE, IL 62230

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
12616 STATE RTE 143
HIGHLAND, IL 62249

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5099 - Durable Goods

NAICS Code

421990 - Durable Goods Wholesalers

Loan Approval Date

12/9/2002

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Breese IL, you ought to talk with a local Breese SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Breese businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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