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December 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Farmer City, Business Loans > Farmer City State Bank Farmer City Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
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Banks Doing SBA Loans in Illinois
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Farmer City, Illinois Bank Lends Money to Commercial And Industrial Machinery And Equipment Company in Farmer City, IllinoisWant to talk with a Farmer City, Illinois bank about an SBA loan? Here's one Illinois business loan, issued by a Farmer City bank, that was approved by the SBA. Applying for an SBA loan with Farmer City State Bank worked out well for our friends at one local company in Farmer City, Illinois. They got an SBA loan for $80,000. Great job! SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender FARMER CITY STATE BANK This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 2/10/2004 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Farmer City IL, you ought to talk with a local Farmer City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Farmer City businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmer City State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmer City State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in Farmer City, Illinois Find an SBA Lender in Illinois
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