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May 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Champaign, Business Loans > Main Street Bank & Trust Champaign Business Loans > Full-Service Restaurants Loan | ||||
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Champaign, Illinois SBA 7A Banks
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Champaign, Illinois Bank Lends Money to Full-Service Restaurants Company in East Peoria, IllinoisA Champaign, Illinois SBA loan can be yours. Learn how a business got a $225,000 business loan from this Illinois bank. This loan to a local firm is a good example of an SBA loan. Main Street Bank & Trust 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: FULL-SERVICE RESTAURANTS SBA Loan Lender MAIN STREET BANK & TRUST The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/8/2007 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help retain 20 existing jobs. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in East Peoria IL, you ought to talk with a local East Peoria SBA lender or talk with an out-of-area SBA lender that has previously loaned money to East Peoria businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Main Street Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Advice on Getting a Small Business Loan SBA Banks in Champaign, Illinois
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