Danville, Illinois Entrepreneur Gets a Bank Loan

Looking to get an Illinois small business loan? This Illinois entrepreneur got a small business loan, provided by an Illinois bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Danville, Illinois by studying this loan to a local company, made back in 2002. Banks like Old National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND ATHLETIC GOODS
DANVILLE, IL 61832

SBA Loan Lender

OLD NATIONAL BANK
2 W MAIN ST
DANVILLE, IL 61834

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3949 - Sporting and Athletic Goods

NAICS Code

339920 - Sporting and Athletic Goods Manufacturing

Loan Approval Date

1/30/2002

Loan Approval Gross Amount

$277,000

Loan Approval from the SBA

Of the total $277,000 loan amount, the SBA guaranteed $207,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 11 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

If you have been wondering how do i get money to start a business in Danville IL, you ought to talk with a local Danville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Danville 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 $277,000 loan. Remember, if it to be, it is up to me!

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:

Financing Your Business

Best Danville, Illinois Banks for Small Business

Where to Get an SBA Loan Illinois