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December 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Lincoln, Business Loans > State Bank Of Lincoln Lincoln Business Loans > Food Stores Loan | ||||
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Raising Money in Elkhart, Illinois With SBA Loans
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Business Loans for Food Supplement StoresWith these business loans for food supplement stores, the SBA guarantees the lender that the loan will be repaid. This food supplement stores loan for $50,000 was given to an Illinois entrepreneur in 2001. This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with State Bank Of Lincoln, out of Lincoln, Illinois. The loan was granted and they received $50,000 to help grow their Elkhart, Illinois business. SBA Loan Borrower COMPANY TYPE: FOOD STORES SBA Loan Lender STATE BANK OF LINCOLN 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 5499 - Food Stores NAICS Code 446191 - Food Supplement Stores Loan Approval Date 6/26/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Family and Friend Investors - Your First Financiers SBA Banks in Lincoln, Illinois
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