Mattoon, Illinois Business Gets SBA-Guaranteed Funding from First Mid-Illinois Bank & Trust

An SBA loan from First Mid-Illinois Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mattoon, Illinois business owner got a $150,000 loan.

Getting a small business loan in Mattoon, 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 First Mid-Illinois Bank & Trust, operating out of Effingham, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY OUTPATIENT FACILITIES
MATTOON, IL 61938

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
902 N KELLER DR
EFFINGHAM, IL 62401

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

8093 - Specialty Outpatient Facilities

NAICS Code

621498 - Outpatient Care Centers

Loan Approval Date

8/9/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Mid-Illinois Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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Where to Get an SBA Loan Illinois