Leroy, IL Entrepreneur Gets SBA Loan to Buy True Value Hardware Franchise

Need a loan to buy a True Value Hardware franchise? Busey Bank has a history of making these loans and they are guaranteed by the SBA.

True Value Hardware franchise loans are available to Leroy, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Busey Bank, based in Fort Myers, Florida, issued an SBA franchise loan for a True Value Hardware franchise in 2001. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

TRUE VALUE HARDWARE, JUST ASK
LEROY, IL 61752

SBA Loan Lender

BUSEY BANK
7980 SUMMERLIN LAKES DRIVE
FORT MYERS, FL 33907

This SBA bank 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.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

3/16/2001

Loan Approval Gross Amount

$300,400

Loan Approval from the SBA

Of the total $300,400 loan amount, the SBA guaranteed $225,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a True Value Hardware franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

While you may be able to borrow money from friends and family, 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.

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