Financing for Farm Supplies Wholesalers

Looking for commercial loans for farm supplies wholesalers? An SBA loan may be just what you've been looking for. This $150,000 farm supplies wholesalers loan was issued by an Illinois bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The Farmers And Mechanics Bank, out of Peoria, Illinois. The loan was granted and they received $150,000 to help grow their Edelstein, Illinois business.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES WHOLESALERS
EDELSTEIN, IL 61523

SBA Loan Lender

THE FARMERS AND MECHANICS BANK
4900 N GLEN PARK PL, STE A
PEORIA, IL 61614

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Borrow Money

SBA Approved Banks in Peoria, Illinois

Where to Get an SBA Loan Illinois