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May 9, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Champaign, Business Loans > Busey Bank Champaign Business Loans > Plastics Product Manufacturing Loan | ||||
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We Needed an SBA 7A Loan in Mooresville, Indiana and We Got One!
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Where to Get Capital for Plastics Product ManufacturingLooking for SBA loans for plastics product manufacturing? Try the SBA. This $225,000 plastics product manufacturing loan was issued by an Illinois bank. This small business knew how to go about getting a business bank loan. Based in Mooresville, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Busey Bank, based in Champaign, Illinois. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING SBA Loan Lender BUSEY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 326199 - Plastics Product Manufacturing Loan Approval Date 8/11/2005 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 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 50 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Busey Bank and they will explain how you can get an SBA loan for your company. 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: Best Banks in Champaign, Illinois
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