Business Loan from Main Street Bank & Trust Given to Radio, Tv, And Consumer Electronics Retailing Company

Main Street 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.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Champaign, Illinois was able to borrow $75,000 from Main Street Bank & Trust. The SBA made the loan possible by guaranteeing $63,750 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO, TV, AND CONSUMER ELECTRONICS RETAILING
CHAMPAIGN, IL 61822

SBA Loan Lender

MAIN STREET BANK & TRUST
100 W UNIVERSITY AVE
CHAMPAIGN, IL 61824

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5731 - Radio, TV, and Consumer Electronics Retailing

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

12/12/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 only one employee. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? 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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