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May 16, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mattoon, Business Loans > First Mid-Illinois Bank & Trust Mattoon Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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Get a Small Business Loan in Altamont, Illinois
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Altamont, Illinois Entrepreneur Gets a Small Business LoanIllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, an Illinois bank provides the loan. Getting a small business loan in Altamont, Illinois was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Mid-Illinois Bank & Trust. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender FIRST MID-ILLINOIS BANK & TRUST This lender issued this particular business 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. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 4/17/2001 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Mid-Illinois Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Mid-Illinois Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Banks in Mattoon, Illinois
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