Tobacco Stores Bank Loans

With these bank loans for tobacco stores, the SBA guarantees the lender that the loan will be repaid. This tobacco stores loan for $150,000 was given to an Illinois entrepreneur in 2000.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with National Bank & Trust - Sycamore, out of Sycamore, Illinois. The loan was granted and they received $150,000 to help grow their Elgin, Illinois business.

SBA Loan Borrower

COMPANY TYPE: TOBACCO STORES AND STANDS
ELGIN, IL 60123

SBA Loan Lender

NATIONAL BANK & TRUST - SYCAMORE
230 W STATE ST
SYCAMORE, IL 60178

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5993 - Tobacco Stores and Stands

NAICS Code

453991 - Tobacco Stores

Loan Approval Date

6/22/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Microlending as a Small Business Funding Source

SBA Participating Banks in Sycamore, Illinois

SBA Participating Banks in Illinois