Villa Grove, Illinois Entrepreneur Gets a Bank Loan

IllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Illinois bank provides the loan.

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

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MACHINERY AND EQUIPMENT
VILLA GROVE, IL 61956

SBA Loan Lender

LONGVIEW STATE BANK
414 W MAIN ST
SIDNEY, IL 61877

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

3531 - Construction Machinery and Equipment

NAICS Code

333120 - Construction Machinery Manufacturing

Loan Approval Date

6/26/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 company promised to use the funding to increase staffing levels or retain any existing employees.

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

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Longview State Bank and they will explain how you can get an SBA loan for your company.

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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