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May 9, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Arenzville, Business Loans > 1st National Bank - Arenzville Arenzville Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
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Farmersville SBA Loans
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1st National Bank - Arenzville Gives Bank Loan to Commercial And Industrial Machinery And Equipment CompanyBank loans in Illinois are hard to find these days. We take a look at one Illinois bank loan, provided by an Illinois bank, that was approved by the SBA. By giving the right information to 1st National Bank - Arenzville, this Farmersville, Illinois business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender 1ST NATIONAL BANK - ARENZVILLE This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 6/25/2001 Loan Approval Gross Amount $67,000 Loan Approval from the SBA Of the total $67,000 loan amount, the SBA guaranteed $56,950. 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 10 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $67,000. How would you spend $67,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Banks for Arenzville, Illinois Loans
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