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December 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Carthage, Business Loans > First Community Bank Carthage Business Loans > Retail Stores Loan | ||||
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SBA 7A Banks for Niota, Illinois Business Owners
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First Community Bank Gives Business Loan to Retail Stores CompanyLooking to get an Illinois SBA loan? This Illinois entrepreneur got an SBA loan, provided by an Illinois bank that works with the SBA to help small business owners. Getting a small business loan in Niota, Illinois was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Community Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender FIRST COMMUNITY BANK 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 bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores Loan Approval Date 4/27/2000 Loan Approval Gross Amount $155,550 Loan Approval from the SBA Of the total $155,550 loan amount, the SBA guaranteed $116,663. 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 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. We can help you find the best banks for small businesses in Niota or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Banking Deregulation's Effects on Entrepreneurship Good Banks for Small Business in Carthage, Illinois
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