Local Business Gets an Illinois Small Business Loan

IllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, an Illinois bank provides the loan.

You can learn something about getting a small business loan in Hoopeston, Illinois by studying this loan to a local business, made back in 2007. Banks like Community Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BOWLING CENTERS
HOOPESTON, IL 60942

SBA Loan Lender

COMMUNITY BANK
221 BANK ST
HOOPESTON, IL 60942

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713950 - Bowling Centers

Loan Approval Date

11/14/2007

Loan Approval Gross Amount

$248,000

Loan Approval from the SBA

Of the total $248,000 loan amount, the SBA guaranteed $186,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help create 3 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Hoopeston IL, you ought to talk with a local Hoopeston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hoopeston businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Dealing With Venture Capitalists

Where to Get an SBA Loan in Hoopeston, Illinois

Illinois SBA 7A Lenders