Pekin, Illinois Business Gets SBA-Guaranteed Funding from Heartland Bank & Trust

Heartland Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Heartland Bank & Trust, out of Pekin, Illinois. The loan was granted and they received $88,000 to help grow their Pekin, Illinois business.

SBA Loan Borrower

COMPANY TYPE: CELLULAR AND WIRELESS
PEKIN, IL 61554

SBA Loan Lender

HEARTLAND BANK & TRUST
3400 COURT ST
PEKIN, IL 61554

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

513322 - Cellular and Wireless

Loan Approval Date

6/18/2001

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $74,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Heartland Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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