Firm Gets an Illinois Business Loan

Small business loans in Illinois are hard to find these days. We take a look at one Illinois small business loan, provided by an Illinois bank, that was approved by the SBA.

You can learn something about getting a small business loan in East Peoria, Illinois by studying this loan to a local company, made back in 2004. Banks like Busey Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
EAST PEORIA, IL 61611

SBA Loan Lender

BUSEY BANK
405 N WILLIAM KUMPF BLVD
PEORIA, IL 61605

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

7/16/2004

Loan Approval Gross Amount

$188,000

Loan Approval from the SBA

Of the total $188,000 loan amount, the SBA guaranteed $141,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Busey Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Financing Your Business

SBA 7A Banks in Peoria, Illinois

Illinois SBA 7A Lenders