Eldorado, Illinois Bank Lends Money to Trucking Company in Broughton, Illinois

An Eldorado, Illinois SBA loan can be yours. Learn how a company got a $497,243 business loan from this Illinois bank.

This loan to a local firm is a good example of an SBA loan. First State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
BROUGHTON, IL 62817

SBA Loan Lender

FIRST STATE BANK
946 FOURTH ST
ELDORADO, IL 62930

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

Loan Approval Date

8/24/2000

Loan Approval Gross Amount

$497,243

Loan Approval from the SBA

Of the total $497,243 loan amount, the SBA guaranteed $372,932.

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 19 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add 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.

While you may be able to borrow money from friends and family, 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:

SBIR Funding

SBA 7A Banks in Eldorado, Illinois

Getting an SBA Loan in Illinois