Taylorville, Illinois Entrepreneur Gets an SBA Loan

Searching for an Illinois small business loan? This Illinois entrepreneur got a small business loan, provided by an Illinois bank that works with the SBA to help small business owners.

Getting a small business loan in Taylorville, Illinois was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Palmer Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
TAYLORVILLE, IL 62568

SBA Loan Lender

PALMER BANK
620 N WEBSTER
TAYLORVILLE, IL 62568

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

9/5/2001

Loan Approval Gross Amount

$44,000

Loan Approval from the SBA

Of the total $44,000 loan amount, the SBA guaranteed $37,400.

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 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Taylorville IL, you ought to talk with a local Taylorville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Taylorville businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Palmer Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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