Business Loans for Farm Product Raw Material Merchant Wholesalers

With these business loans for farm product raw material merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm product raw material merchant wholesalers loan for $600,000 was given to an Illinois entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Waverly, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Marine Bank, Springfield, based in Springfield, Illinois.

SBA Loan Borrower

COMPANY TYPE: FARM PRODUCT RAW MATERIAL MERCHANT WHOLESALERS
WAVERLY, IL 62692

SBA Loan Lender

MARINE BANK, SPRINGFIELD
3050 W WABASH AVE
SPRINGFIELD, IL 62704

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424590 - Farm Product Raw Material Merchant Wholesalers

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 2 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 Marine Bank, Springfield 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.

Related Links:

SBIR Funding

Who Lends Money to Small Businesses in Springfield, Illinois

Illinois SBA Banks