Loans for Commercial and Institutional Building Construction

Looking for loans for commercial and institutional building construction? Try the SBA. This $74,000 commercial and institutional building construction loan was issued by an Illinois bank.

Getting a small business loan in Waltonville, Illinois was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Peoples National Bank, operating out of Mount Vernon, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
WALTONVILLE, IL 62894

SBA Loan Lender

PEOPLES NATIONAL BANK
413 S 34TH ST
MOUNT VERNON, IL 62864

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

6/3/2005

Loan Approval Gross Amount

$74,000

Loan Approval from the SBA

Of the total $74,000 loan amount, the SBA guaranteed $62,900.

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 4 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding From a Venture Capitalist

SBA 7A Lenders in Mount Vernon, Illinois

Illinois SBA 7A Banks