Store Retailers Commercial Loans

With these commercial loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $35,000 was given to an Illinois entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charleston, Illinois was able to borrow $35,000 from First Finan Bank. The SBA made the loan possible by guaranteeing $29,750 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
CHARLESTON, IL 61920

SBA Loan Lender

FIRST FINAN BANK
820 W LINCOLN
CHARLESTON, IL 61920

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.

NAICS Code

453998 - Store Retailers

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

If you want money for new small business in Charleston IL, you ought to talk with a local Charleston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Charleston 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 $35,000 loan. Remember, things become real when you believe you can achieve them!

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:

Small Business Credit Cards

Best Banks for Small Business in Charleston, Illinois

Find an SBA Lender in Illinois