Illinois Business Loan Issued to Drinking Places Company

Small business loans in Illinois are tough to come by these days. We take a look at one Illinois small business loan, provided by an Iowa bank, that was approved by the SBA.

You can learn something about getting a small business loan in Moline, Illinois by studying this loan to a local company, made back in 2001. Banks like The National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
MOLINE, IL 61265

SBA Loan Lender

THE NATIONAL BANK
2322 E KIMBERLY RD
DAVENPORT, IA 52807

This lender issued this particular commercial 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.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

6/4/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 5 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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