Peoples National Bank SBA Loan to Local Trucking Without Storage Company

An SBA loan from Peoples National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Odin, Illinois business owner got a $51,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Odin, Illinois was able to borrow $51,000 from Peoples National Bank. The SBA made the loan possible by guaranteeing $43,350 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
ODIN, IL 62870

SBA Loan Lender

PEOPLES NATIONAL BANK
102 CROSSCREEK BLVD
SALEM, IL 62881

This lender issued this particular bank 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

4212 - Local Trucking Without Storage

NAICS Code

562111 - Solid Waste Collection

Loan Approval Date

4/10/2001

Loan Approval Gross Amount

$51,000

Loan Approval from the SBA

Of the total $51,000 loan amount, the SBA guaranteed $43,350.

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

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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