Charleston, Illinois Business Gets SBA-Guaranteed Funding from First Mid-Illinois Bank & Trust

First Mid-Illinois Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

Getting a small business loan in Charleston, Illinois was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Mid-Illinois Bank & Trust, operating out of Charleston, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
CHARLESTON, IL 61920

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
500 W LINCOLN ST
CHARLESTON, IL 61920

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

5/3/2001

Loan Approval Gross Amount

$85,425

Loan Approval from the SBA

Of the total $85,425 loan amount, the SBA guaranteed $72,611.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

While you may be able to find other ways to get money to start a business, 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.

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