Get an SBA Loan for Book Stores

With these small business loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $50,000 was given to an Illinois entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Springfield, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Illinois National Bank, based in Springfield, Illinois.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
SPRINGFIELD, IL 62702

SBA Loan Lender

ILLINOIS NATIONAL BANK
322 E CAPITOL AVE
SPRINGFIELD, IL 62701

This lender issued this particular SBA 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.

SIC Code

5942 - Book Stores

NAICS Code

451211 - Book Stores

Loan Approval Date

9/28/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Illinois National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Illinois National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA Approved Banks in Springfield, Illinois

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