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December 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mcleansboro, Business Loans > Peoples National Bank Mcleansboro Business Loans > Furniture Stores Loan | ||||
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Advice for Businesses On Getting a Loan
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Furniture Stores LoansLooking for loans for furniture stores? Try the SBA. This $110,000 furniture stores loan was issued by an Illinois bank. This small firm knew how to go about getting a business bank loan. Based in Fairview Heights, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Peoples National Bank, based in Mcleansboro, Illinois. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender PEOPLES NATIONAL BANK The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 442110 - Furniture Stores Loan Approval Date 8/17/2006 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $55,000. 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 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Approved Banks in Mcleansboro, Illinois
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