Centrue Bank SBA Loan to Construction Materials Company

Searching for an Illinois SBA loan? Here's one Illinois business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Ottawa, Illinois, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Centrue Bank, based in Ottawa, Illinois.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MATERIALS
OTTAWA, IL 61350

SBA Loan Lender

CENTRUE BANK
400 ETNA RD
OTTAWA, IL 61350

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5039 - Construction Materials

Loan Approval Date

3/31/2000

Loan Approval Gross Amount

$17,000

Loan Approval from the SBA

Of the total $17,000 loan amount, the SBA guaranteed $13,600.

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. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Centrue Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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