Business Loan from The First Trust & Savings Bank Given to Animal Food Manufacturing Company

An SBA loan from The First Trust & Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Watseka, Illinois business owner got a $150,000 loan.

Getting a small business loan in Watseka, Illinois was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from The First Trust & Savings Bank, operating out of Watseka, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: ANIMAL FOOD MANUFACTURING
WATSEKA, IL 60970

SBA Loan Lender

THE FIRST TRUST & SAVINGS BANK
120 E WALNUT ST
WATSEKA, IL 60970

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311119 - Animal Food Manufacturing

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours 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.

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