Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

Effingham, Illinois Bank Loan

 

 
Loan Census SBA Loan Info

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