Old National Bank Gives Small Business Loan to Accounting, Auditing, And Bookkeeping Services Company

Searching for an Illinois business loan? This Illinois entrepreneur got a business loan, provided by an Illinois bank that works with the SBA to help small business owners.

This small business, based in Mt. Vernon, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Old National Bank. We've got the inside scoop on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: ACCOUNTING, AUDITING, AND BOOKKEEPING SERVICES
MT. VERNON, IL 62864

SBA Loan Lender

OLD NATIONAL BANK
400 S 34TH
MOUNT VERNON, IL 62864

This small business 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.

SIC Code

8721 - Accounting, Auditing, and Bookkeeping Services

NAICS Code

541219 - Accounting Services

Loan Approval Date

12/13/2001

Loan Approval Gross Amount

$194,000

Loan Approval from the SBA

Of the total $194,000 loan amount, the SBA guaranteed $145,500.

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 3 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

504 Loans

Where to Get an SBA Loan in Mount Vernon, Illinois

Browse All Business Loan Sources for Illinois