Commercial Bakeries Bank Loans

With these bank loans for commercial bakeries, the SBA guarantees the lender that the loan will be repaid. This commercial bakeries loan for $275,000 was given to an Illinois entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sterling, Illinois was able to borrow $275,000 from Centrue Bank. The SBA made the loan possible by guaranteeing $206,250 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS
STERLING, IL 61081

SBA Loan Lender

CENTRUE BANK
201 E MAIN
STREATOR, IL 61364

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2051 - Bread, Cake, and Related Bakery Products

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

4/24/2000

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

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 only one employee. The SBA loan documents indicated that the loan would help generate 13 new jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Sterling or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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