Effingham, IL Entrepreneur Gets SBA Loan to Buy Century 21 Franchise
Need a loan to buy a Century 21 franchise? First Neighbor Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Effingham, Illinois needed money to invest in a Century 21 franchise back in 2006. First Neighbor Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan.
SBA Loan Borrower
CENTURY 21 REALTY CONCEPTS
EFFINGHAM, IL 62401
SBA Loan Lender
FIRST NEIGHBOR BANK
201 N MERIDIAN ST
TOLEDO, IL 62468
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
6531 - Real Estate Agents and Managers
NAICS Code
531210 - Real Estate Agents and Brokers
Loan Approval Date
6/8/2006
Loan Approval Gross Amount
$107,500
Loan Approval from the SBA
Of the total $107,500 loan amount, the SBA guaranteed $91,375.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Century 21 franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents did not indicate that the small business planned 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?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Century 21 Real Estate Corporation
Banking Deregulation's Effects on Entrepreneurship
Small Bank Loans in Toledo, Illinois
SBA Lenders in Illinois