Mahomet, Illinois Business Gets SBA-Guaranteed Funding from Busey Bank

An SBA loan from Busey Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mahomet, Illinois business owner got a $250,000 loan.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Busey Bank, out of Champaign, Illinois. The loan was granted and they received $250,000 to help grow their Mahomet, Illinois business.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY WORK
MAHOMET, IL 61853

SBA Loan Lender

BUSEY BANK
502 W WINDSOR RD
CHAMPAIGN, IL 61820

This SBA bank loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1751 - Carpentry Work

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

3/31/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 14 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,000 loan. Remember, things become real when you believe you can achieve them!

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:

Accountant's Role in Securing Financing

SBA Banks in Champaign, Illinois

SBA Illinois Lenders