Entrepreneur Works With Mount Vernon, Illinois Bank to Get an SBA Loan

Find Mount Vernon, Illinois banks that specialize in business loans and know how to work with entrepreneurs. Peoples National Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Fairfield, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Peoples National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SPECIAL DIES AND TOOLS, DIE SETS, JIGS AND FIXTURE
FAIRFIELD, IL 62837

SBA Loan Lender

PEOPLES NATIONAL BANK
520 S 42ND ST
MOUNT VERNON, IL 62864

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 SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3544 - Special Dies and Tools, Die Sets, Jigs and Fixture

NAICS Code

333514 - Special Die and Tool, Die Set, Jig, and Fixture Manufacturing

Loan Approval Date

12/5/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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:

Bank Credit Lines

Small Bank Loans in Mount Vernon, Illinois

Illinois SBA 7A Banks