Used Car Dealers Business Loans

Looking for business loans for used car dealers? Talk to a banker who works with the SBA. This $87,100 used car dealers loan was issued by an Illinois bank.

Getting a small business loan in Rantoul, Illinois was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Main Street Bank & Trust, operating out of Champaign, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
RANTOUL, IL 61866

SBA Loan Lender

MAIN STREET BANK & TRUST
100 W UNIVERSITY AVE
CHAMPAIGN, IL 61824

This lender issued this particular business 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.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

3/30/2004

Loan Approval Gross Amount

$87,100

Loan Approval from the SBA

Of the total $87,100 loan amount, the SBA guaranteed $74,035.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Loan

Small Bank Loans in Champaign, Illinois

SBA Illinois Banks