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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Champaign, Business Loans > Main Street Bank & Trust Champaign Business Loans > Carwashes Loan | ||||
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Main Street Bank & Trust Business Loan Champaign, IL
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Business Loan from Main Street Bank & Trust Given to Carwashes CompanyMain Street Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Champaign, Illinois was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Main Street Bank & Trust, operating out of Champaign, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: CARWASHES SBA Loan Lender MAIN STREET BANK & TRUST This loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7542 - Carwashes NAICS Code 811192 - Car Washes Loan Approval Date 11/6/2003 Loan Approval Gross Amount $485,700 Loan Approval from the SBA Of the total $485,700 loan amount, the SBA guaranteed $364,275. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Main Street Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Champaign, Illinois
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