SBA Loan from First Clover Leaf Bank Helps Drinking Places Company

An SBA loan from First Clover Leaf Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Belleville, Illinois business owner got a $221,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Clover Leaf Bank, out of Edwardsville, Illinois. The loan was granted and they received $221,000 to help grow their Belleville, Illinois business.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
BELLEVILLE, IL 62223

SBA Loan Lender

FIRST CLOVER LEAF BANK
200 E PARK ST
EDWARDSVILLE, IL 62025

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$221,000

Loan Approval from the SBA

Of the total $221,000 loan amount, the SBA guaranteed $165,750.

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 5 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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