Peoples National Bank SBA Loan to Children's And Infants' Wear Stores Company

Peoples National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Lawrenceville, Illinois was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Peoples National Bank, operating out of Fairfield, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' WEAR STORES
LAWRENCEVILLE, IL 62439

SBA Loan Lender

PEOPLES NATIONAL BANK
215 SE 3RD ST
FAIRFIELD, IL 62837

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5641 - Children's and Infants' Wear Stores

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

8/9/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Lawrenceville 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:

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SBA Approved Banks in Fairfield, Illinois

Illinois SBA 7A Banks