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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Mcleansboro, Business Loans > Peoples National Bank Mcleansboro Business Loans > Concrete Product Manufacturing Loan | ||||
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Illinois Small Business SBA Loans
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Buckner, Illinois Entrepreneur Gets a Bank LoanIllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, an Illinois bank provides the loan. This business, based in Buckner, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Peoples National Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: CONCRETE PRODUCT MANUFACTURING SBA Loan Lender PEOPLES NATIONAL BANK This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 327390 - Concrete Product Manufacturing Loan Approval Date 7/31/2007 Loan Approval Gross Amount $595,000 Loan Approval from the SBA Of the total $595,000 loan amount, the SBA guaranteed $446,250. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Peoples National Bank 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: Small Business Banks in Mcleansboro, Illinois
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