SBA Loans for Theater Companies and Dinner Theaters

Looking for SBA loans for theater companies and dinner theaters? The SBA may be the answer. This $155,000 theater companies and dinner theaters loan was issued by an Illinois bank.

Getting a small business loan in Decatur, Illinois was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Mid-Illinois Bank & Trust, operating out of Mattoon, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
DECATUR, IL 62521

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
1515 CHARLESTON AVE
MATTOON, IL 61938

This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

711110 - Theater Companies and Dinner Theaters

Loan Approval Date

11/12/2002

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Mid-Illinois Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Mid-Illinois Bank & Trust 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.

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