Marion, Illinois Bank Gives SBA Loan to Book Stores Company

Find Marion, Illinois banks that specialize in business loans and know how to work with entrepreneurs. The Bank Of Marion is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
MARION, IL 62959

SBA Loan Lender

THE BANK OF MARION
300 TOWER SQUARE PLZ
MARION, IL 62959

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5942 - Book Stores

NAICS Code

451211 - Book Stores

Loan Approval Date

7/13/2006

Loan Approval Gross Amount

$419,000

Loan Approval from the SBA

Of the total $419,000 loan amount, the SBA guaranteed $314,250.

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

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Line of Credit

SBA 7A Banks in Marion, Illinois

SBA Lenders in Illinois