Business Loan from Flora Bank & Trust Given to Support Activities For Oil And Gas Operations Company

An SBA loan from Flora Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clay City, Illinois business owner got a $66,646 loan.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Flora Bank & Trust, out of Flora, Illinois. The loan was granted and they received $66,646 to help grow their Clay City, Illinois business.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
CLAY CITY, IL 62824

SBA Loan Lender

FLORA BANK & TRUST
1010 W NORTH AVE
FLORA, IL 62839

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

9/12/2005

Loan Approval Gross Amount

$66,646

Loan Approval from the SBA

Of the total $66,646 loan amount, the SBA guaranteed $56,649.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Clay City 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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