SBA Loan from 1st National Bank - Dieterich Helps Eating Places Company

1st National Bank - Dieterich is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Newton, Illinois was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Dieterich, operating out of Dieterich, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NEWTON, IL 62448

SBA Loan Lender

1ST NATIONAL BANK - DIETERICH
101 S MAIN ST
DIETERICH, IL 62424

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/28/2005

Loan Approval Gross Amount

$91,800

Loan Approval from the SBA

Of the total $91,800 loan amount, the SBA guaranteed $78,030.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Accountant's Role in Securing Financing

SBA Banks in Dieterich, Illinois

Find an SBA Lender in Illinois