Loans for Store Retailers

Looking for loans for store retailers? Try the SBA. This $141,190 store retailers loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Quincy, Illinois was able to borrow $141,190 from First Bank. The SBA made the loan possible by guaranteeing $120,011 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
QUINCY, IL 62301

SBA Loan Lender

FIRST BANK
636 HAMPSHIRE ST
QUINCY, IL 62301

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.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

5/16/2003

Loan Approval Gross Amount

$141,190

Loan Approval from the SBA

Of the total $141,190 loan amount, the SBA guaranteed $120,011.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Quincy IL, you ought to talk with a local Quincy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Quincy businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Bank and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

SBA Banks in Quincy, Illinois

Illinois SBA 7A Lenders