Mcleansboro, Illinois Business Gets SBA-Guaranteed Funding from Peoples National Bank
Peoples National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Mcleansboro, 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 Peoples National Bank, operating out of Mcleansboro, Illinois. Here are the details on this Illinois small business loan.
SBA Loan Borrower
COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES
MCLEANSBORO, IL 62859
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
5912 - Drug Stores and Proprietary Stores
NAICS Code
446110 - Pharmacies and Drug Stores
Loan Approval Date
5/7/2001
Loan Approval Gross Amount
$110,000
Loan Approval from the SBA
Of the total $110,000 loan amount, the SBA guaranteed $93,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $110,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
The Friends and Family Network
SBA 7A Banks for Mcleansboro, Illinois Loans
SBA Illinois Banks