Business Loan from First Clover Leaf Bank Given to Baked Goods Stores Company

First Clover Leaf Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Clover Leaf Bank, out of Edwardsville, Illinois. The loan was granted and they received $13,000 to help grow their Edwardsville, Illinois business.

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
EDWARDSVILLE, IL 62025

SBA Loan Lender

FIRST CLOVER LEAF BANK
200 E PARK ST
EDWARDSVILLE, IL 62025

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.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

10/19/2004

Loan Approval Gross Amount

$13,000

Loan Approval from the SBA

Of the total $13,000 loan amount, the SBA guaranteed $11,050.

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 only one employee. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

The Friends and Family Network

Banks in Edwardsville, Illinois

Find an SBA Lender in Illinois