Illinois Bank Loan Issued to Eating Places Company

IllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Illinois bank provides the loan.

Getting a small business loan in Hamel, Illinois was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank In Staunton. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HAMEL, IL 62046

SBA Loan Lender

1ST NATIONAL BANK IN STAUNTON
105 E STATE ST
HAMEL, IL 62046

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/18/2002

Loan Approval Gross Amount

$26,000

Loan Approval from the SBA

Of the total $26,000 loan amount, the SBA guaranteed $19,500.

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 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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 can help you find the best banks for small businesses in Hamel or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

SBIR Funding

SBA 7A Lenders in Hamel, Illinois

SBA Lenders in Illinois