Champaign, Illinois Bank Lends Money to Single-Family Housing Construction Company in Mahomet, Illinois

Get to know Champaign, Illinois banks that specialize in business loans and know how to work with entrepreneurs. Main Street Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mahomet, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Main Street Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION
MAHOMET, IL 61853

SBA Loan Lender

MAIN STREET BANK & TRUST
100 W UNIVERSITY AVE
CHAMPAIGN, IL 61824

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1521 - Single-Family Housing Construction

NAICS Code

236115 - New Single-Family Housing Construction

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$113,600

Loan Approval from the SBA

Of the total $113,600 loan amount, the SBA guaranteed $85,200.

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised 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 money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Mahomet 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.

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