First Fed. Savings Bank - Champa SBA Loan to Farm Supplies Company

An SBA loan from First Fed. Savings Bank - Champa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Savoy, Illinois business owner got a $400,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Fed. Savings Bank - Champa, out of Champaign, Illinois. The loan was granted and they received $400,000 to help grow their Savoy, Illinois business.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
SAVOY, IL 61874

SBA Loan Lender

FIRST FED. SAVINGS BANK - CHAMPA
1311 S NEIL ST
CHAMPAIGN, IL 61820

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5191 - Farm Supplies

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

11/12/2004

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 10 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $400,000. How would you spend $400,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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