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November 21, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Champaign, Business Loans > Busey Bank Champaign Business Loans > Cutting Tool And Machine Tool Accessory Manufacturing Loan | ||||
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Champaign, Illinois SBA Lenders
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Entrepreneur Works With Champaign, Illinois Bank to Get an SBA LoanWant to talk with a Champaign, Illinois bank about a business loan? Here's one Indiana business loan, issued by a Champaign bank, that was approved by the SBA. Applying for an SBA loan with Busey Bank worked out well for our friends at one local firm in Indianapolis, Indiana. They got an SBA loan for $1,085,000. Nice! SBA Loan Borrower COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING SBA Loan Lender BUSEY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333515 - Cutting Tool and Machine Tool Accessory Manufacturing Loan Approval Date 9/26/2003 Loan Approval Gross Amount $1,085,000 Loan Approval from the SBA Of the total $1,085,000 loan amount, the SBA guaranteed $705,250. 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 40 employees. The SBA loan application for the borrower indicated that the loan would help retain 40 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Busey Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Champaign, Illinois
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