Centrue Bank SBA Loan to Retail Stores Company

An SBA loan from Centrue Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an East Peoria, Illinois business owner got a $50,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Peoria, Illinois was able to borrow $50,000 from Centrue Bank. The SBA made the loan possible by guaranteeing $40,000 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
EAST PEORIA, IL 60611

SBA Loan Lender

CENTRUE BANK
400 ETNA RD
OTTAWA, IL 61350

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

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

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 $50,000 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:

Business Credit Evaluation

Where to Get an SBA Loan in Ottawa, Illinois

Illinois SBA Bank Lenders