Commercial Loans for Home and Garden Equipment Repair and Maintenance

With these commercial loans for home and garden equipment repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This home and garden equipment repair and maintenance loan for $30,000 was given to an Illinois entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Momence, Illinois was able to borrow $30,000 from Centrue Bank. The SBA made the loan possible by guaranteeing $25,500 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE
MOMENCE, IL 60954

SBA Loan Lender

CENTRUE BANK
310 S SCHUYLER AVE
KANKAKEE, IL 60901

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811411 - Home and Garden Equipment Repair and Maintenance

Loan Approval Date

10/21/2005

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new 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 Centrue 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.

Related Links:

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Small Bank Loans in Kankakee, Illinois

Illinois SBA Banks