Illinois Small Business Loan Issued to Warm Air Heating And Air Conditioning Equipment Company

Would an Illinois bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs.

Getting a small business loan in Moweaqua, Illinois was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First National Bank Of Nokomis. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: WARM AIR HEATING AND AIR CONDITIONING EQUIPMENT
MOWEAQUA, IL 62550

SBA Loan Lender

FIRST NATIONAL BANK OF NOKOMIS
106 N MAIN ST
MOWEAQUA, IL 62550

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

5075 - Warm Air Heating and Air Conditioning Equipment

NAICS Code

421730 - Warm Air Heating and Air-Conditioning Equipment and Suppplies Wholesalers

Loan Approval Date

9/24/2001

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

The Friends and Family Network

SBA Participating Banks in Moweaqua, Illinois

SBA Illinois Banks