Getting an SBA Loan for Golf Courses and Country Clubs

Looking for commercial loans for golf courses and country clubs? Talk to a banker who works with the SBA. This $130,000 golf courses and country clubs loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mount Vernon, Illinois was able to borrow $130,000 from Murphy-Wall St. Bank & Trust. The SBA made the loan possible by guaranteeing $97,500 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PUBLIC GOLF COURSES
MOUNT VERNON, IL 62864

SBA Loan Lender

MURPHY-WALL ST. BANK & TRUST
105 E WATER ST
PINCKNEYVILLE, IL 62274

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7992 - Public Golf Courses

NAICS Code

713910 - Golf Courses and Country Clubs

Loan Approval Date

10/11/2000

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $97,500.

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 10 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Murphy-Wall St. Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Murphy-Wall St. 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.

Related Links:

Obtaining Funding - How to Borrow Money

Small Business Banks in Pinckneyville, Illinois

Getting an SBA Loan in Illinois