SBA Loans for Baked Goods Stores

With these SBA loans for baked goods stores, the SBA guarantees the lender that the loan will be repaid. This baked goods stores loan for $54,100 was given to an Illinois entrepreneur in 2002.

Getting a small business loan in Smithton, Illinois was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Reliance Bank, operating out of Godfrey, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
SMITHTON, IL 62285

SBA Loan Lender

RELIANCE BANK
2810 GODFREY RD
GODFREY, IL 62035

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

5461 - Retail Bakeries

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

7/19/2002

Loan Approval Gross Amount

$54,100

Loan Approval from the SBA

Of the total $54,100 loan amount, the SBA guaranteed $45,985.

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

Start the Process for Getting an SBA Loan Today!

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Reliance 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.

Related Links:

Startup Funding Tip

SBA 7A Lenders in Godfrey, Illinois

SBA Illinois Lenders