Carhage, IL Entrepreneur Gets SBA Loan to Buy Ben Franklin Store Franchise

Need a loan to invest in a Ben Franklin Store franchise? Marine Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Ben Franklin Store franchise loans are available to Carhage, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Marine Bank & Trust, based in Carthage, Illinois, issued an SBA franchise loan for a Ben Franklin Store franchise in 2003. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

BEN FRANKLIN CRAFTS
CARHAGE, IL 62321

SBA Loan Lender

MARINE BANK & TRUST
410 BUCHANAN ST
CARTHAGE, IL 62321

This lender issued this particular debt financing 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

5399 - General Merchandise Stores

NAICS Code

452910 - Warehouse Clubs and Superstores

Loan Approval Date

6/5/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ben Franklin Store franchise. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, where there is a will, there is a way!

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:

Ben Franklin Store

Investor Turnoffs

SBA Participating Banks in Carthage, Illinois

Illinois SBA Bank Lenders