Grain and Field Bean Wholesalers SBA Loans

With these SBA loans for grain and field bean wholesalers, the SBA guarantees the lender that the loan will be repaid. This grain and field bean wholesalers loan for $338,000 was given to an Indiana entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Boswell, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Old National Bank, based in Danville, Illinois.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEANS
BOSWELL, IN 47921

SBA Loan Lender

OLD NATIONAL BANK
2 W MAIN ST
DANVILLE, IL 61834

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5153 - Grain and Field Beans

NAICS Code

422510 - Grain and Field Bean Wholesalers

Loan Approval Date

12/11/2003

Loan Approval Gross Amount

$338,000

Loan Approval from the SBA

Of the total $338,000 loan amount, the SBA guaranteed $253,500.

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

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Old National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

504 Loans

Find an SBA Lender in Danville, Illinois

SBA Lenders in Illinois