Carterville, Illinois Business Gets SBA-Guaranteed Funding from The Bank Of Carbondale

An SBA loan from The Bank Of Carbondale typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Carterville, Illinois business owner got a $156,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carterville, Illinois was able to borrow $156,000 from The Bank Of Carbondale. The SBA made the loan possible by guaranteeing $117,000 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
CARTERVILLE, IL 62918

SBA Loan Lender

THE BANK OF CARBONDALE
216 E MAIN ST
CARBONDALE, IL 62901

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

444210 - Outdoor Power Equipment Stores

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$156,000

Loan Approval from the SBA

Of the total $156,000 loan amount, the SBA guaranteed $117,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Carbondale had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank Of Carbondale made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Attracting Investors

Best Banks for Small Business in Carbondale, Illinois

SBA Illinois Banks