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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mount Vernon, Business Loans > Peoples National Bank Mount Vernon Business Loans > Lumber And Other Building Materials Dealer Loan | ||||
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Illinois Small Business Funding
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Get an SBA Loan for Hardware StoresLooking for bank loans for hardware stores? An SBA loan may be just what you've been looking for. This $425,000 hardware stores loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Golconda, Illinois was able to borrow $425,000 from Peoples National Bank. The SBA made the loan possible by guaranteeing $318,750 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER SBA Loan Lender PEOPLES NATIONAL BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5211 - Lumber and Other Building Materials Dealer NAICS Code 444130 - Hardware Stores Loan Approval Date 7/20/2006 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. 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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $425,000. How would you spend $425,000 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: SBA 7A Banks in Mount Vernon, Illinois Getting a Business Loan in Illinois
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