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May 11, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Pekin, Business Loans > Heartland Bank & Trust Pekin Business Loans > Eating Places Loan | ||||
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SBA Lender Illinois
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SBA Loan from Heartland Bank & Trust Helps Eating Places CompanyAn SBA loan from Heartland Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Peoria, Illinois business owner got a $45,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Peoria, Illinois was able to borrow $45,000 from Heartland Bank & Trust. The SBA made the loan possible by guaranteeing $38,250 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender HEARTLAND BANK & TRUST This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/17/2001 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $38,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $45,000. How would you spend $45,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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:
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