Financing for Nondurable Goods Wholesalers

With these commercial loans for nondurable goods wholesalers, the SBA guarantees the lender that the loan will be repaid. This nondurable goods wholesalers loan for $55,000 was given to an Illinois entrepreneur in 2005.

Getting a small business loan in Modesto, Illinois was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Illinois National Bank, operating out of Springfield, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS WHOLESALERS
MODESTO, IL 62667

SBA Loan Lender

ILLINOIS NATIONAL BANK
322 E CAPITOL AVE
SPRINGFIELD, IL 62701

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422990 - Nondurable Goods Wholesalers

Loan Approval Date

5/16/2005

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Illinois National Bank and they will explain how you can get an SBA loan for your company.

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:

Investor Turnoffs

SBA Approved Banks in Springfield, Illinois

SBA Participating Banks in Illinois