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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 > Motor Vehicle Supplies And New Parts Wholesalers Loan | ||||
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Illinois SBA Banks
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Champaign, Illinois Bank Gives SBA Loan to Motor Vehicle Supplies And New Parts Wholesalers CompanyA Champaign, Illinois SBA loan can be yours. Learn how a business got a $250,000 business loan from this Illinois bank. This loan to an entrepreneur is a good example of an SBA loan. Busey Bank made the loan and the SBA guaranteed a portion of the loan. Many other Indiana entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS SBA Loan Lender BUSEY 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. NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 3/27/2002 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $225,000. 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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: The Friends and Family Network SBA 7A Banks for Champaign, Illinois Loans
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