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May 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Champaign, Business Loans > Busey Bank Champaign Business Loans > Family Clothing Stores Loan | ||||
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Business Loans for Watseka Business Owners
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Family Clothing Stores Business LoansLooking for business loans for family clothing stores? The SBA may be the answer. This $58,000 family clothing stores 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 Busey Bank, out of Champaign, Illinois. The loan was granted and they received $58,000 to help grow their Watseka, Illinois business. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender BUSEY BANK This lender issued this particular debt financing 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. NAICS Code 448140 - Family Clothing Stores Loan Approval Date 8/26/2004 Loan Approval Gross Amount $58,000 Loan Approval from the SBA Of the total $58,000 loan amount, the SBA guaranteed $49,300. 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 documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Small Business Banks in Champaign, Illinois Getting an SBA Loan in Illinois
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