Raising Money for Automotive Parts and Accessories Stores

Looking for business loans for automotive parts and accessories stores? Try the SBA. This $137,000 automotive parts and accessories stores loan was issued by an Illinois bank.

Getting a small business loan in Tunnel Hill, Illinois was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Farmers St. Bank - Alto Pass, operating out of Harrisburg, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
TUNNEL HILL, IL 62991

SBA Loan Lender

FARMERS ST. BANK - ALTO PASS
555 S COMMERCIAL ST
HARRISBURG, IL 62946

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.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$137,000

Loan Approval from the SBA

Of the total $137,000 loan amount, the SBA guaranteed $116,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Tunnel Hill or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Line of Credit

Good Banks for Small Business in Harrisburg, Illinois

Illinois SBA Bank Lenders