Firm Gets an Illinois Bank Loan

IllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, an Illinois bank provides the loan.

This small business, based in Duquoin, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Associated Bank. We've got the inside scoop on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SECONDARY SMELTING, REFINING, AND ALLOYING OF NONFERROUS METAL
DUQUOIN, IL 62832

SBA Loan Lender

ASSOCIATED BANK
612 N MAIN ST
ROCKFORD, IL 61103

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331492 - Secondary Smelting, Refining, and Alloying of Nonferrous Metal

Loan Approval Date

9/20/2001

Loan Approval Gross Amount

$297,000

Loan Approval from the SBA

Of the total $297,000 loan amount, the SBA guaranteed $222,750.

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 6 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.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

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