Nashville, Illinois Business Gets SBA-Guaranteed Funding from Farmers State Bank Of Hoffman

Farmers State Bank Of Hoffman has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nashville, Illinois was able to borrow $146,000 from Farmers State Bank Of Hoffman. The SBA made the loan possible by guaranteeing $124,100 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: WINERIES
NASHVILLE, IL 62263

SBA Loan Lender

FARMERS STATE BANK OF HOFFMAN
225 N COMMERCIAL
CENTRALIA, IL 62801

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312130 - Wineries

Loan Approval Date

2/22/2005

Loan Approval Gross Amount

$146,000

Loan Approval from the SBA

Of the total $146,000 loan amount, the SBA guaranteed $124,100.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

If you want money for new small business in Nashville IL, you ought to talk with a local Nashville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Nashville businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

How to Raise Money

SBA 7A Lenders in Centralia, Illinois

Illinois SBA 7A Banks