Illinois Bank Loan Issued to Shoe Stores Company

Bank loans in Illinois are are few and far betweeen these days. We take a look at one Illinois bank loan, provided by an Illinois bank, that was approved by the SBA.

Getting a small business loan in Springfield, Illinois was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Security Bank, S.B.. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
SPRINGFIELD, IL 62701

SBA Loan Lender

SECURITY BANK, S.B.
300 S GRAND AVE WEST
SPRINGFIELD, IL 62704

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5661 - Shoe Stores

NAICS Code

448210 - Shoe Stores

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$81,920

Loan Approval from the SBA

Of the total $81,920 loan amount, the SBA guaranteed $69,632.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Security Bank, S.B. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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