Hobby, Toy, and Game Stores Loans

With these loans for hobby, toy, and game stores, the SBA guarantees the lender that the loan will be repaid. This hobby, toy, and game stores loan for $655,200 was given to an Illinois entrepreneur in 2006.

Getting a small business loan in Edwardsville, Illinois was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Mid-Illinois Bank & Trust, operating out of Maryville, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS
EDWARDSVILLE, IL 62025

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
2930 N CENTER ST
MARYVILLE, IL 62062

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

5945 - Hobby, Toy, and Game Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

1/4/2006

Loan Approval Gross Amount

$655,200

Loan Approval from the SBA

Of the total $655,200 loan amount, the SBA guaranteed $491,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? 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.

Related Links:

The Friends and Family Network

Good Banks for Small Business in Maryville, Illinois

SBA Illinois Banks