Dahlgren, Illinois Entrepreneur Gets an SBA Loan

IllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Illinois bank provides the loan.

Getting a small business loan in Dahlgren, Illinois was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Peoples National Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: RACETRACKS
DAHLGREN, IL 62828

SBA Loan Lender

PEOPLES NATIONAL BANK
108 S WASHINGTON
MCLEANSBORO, IL 62859

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

7948 -

NAICS Code

711212 - Racetracks

Loan Approval Date

10/28/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Dahlgren IL, you ought to talk with a local Dahlgren SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dahlgren businesses.

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.

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