Bloomington, Illinois Bank Gives SBA Loan to Marine Products Company

Get SBA loans from a Bloomington, Illinois bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Heartland Bank & Trust is a Bloomington, Illinois small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Illinois company.

SBA Loan Borrower

COMPANY TYPE: MARINE PRODUCTS
METAMORA, IL 61548

SBA Loan Lender

HEARTLAND BANK & TRUST
401 N HERSHEY RD
BLOOMINGTON, IL 61704

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

0919 - Marine Products

NAICS Code

111998 - Crop Farming

Loan Approval Date

7/31/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the funding 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Heartland Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Heartland Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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