Palmer Bank SBA Loan to Homefurnishings Stores Company

Looking to get an Illinois business loan? Here's one Illinois business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Taylorville, Illinois was able to borrow $28,800 from Palmer Bank. The SBA made the loan possible by guaranteeing $23,040 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
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

5719 - Homefurnishings Stores

Loan Approval Date

2/4/2000

Loan Approval Gross Amount

$28,800

Loan Approval from the SBA

Of the total $28,800 loan amount, the SBA guaranteed $23,040.

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

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $28,800 loan. Remember, anyone can do it... so why not 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:

The Friends and Family Network

Best Banks in Taylorville, Illinois

Getting a Business Loan in Illinois