Getting an SBA Loan for Canvas and Related Product Mills

With these business loans for canvas and related product mills, the SBA guarantees the lender that the loan will be repaid. This canvas and related product mills loan for $150,000 was given to an Illinois entrepreneur in 2002.

Getting a small business loan in Highland, Illinois was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Mid-Illinois Bank & Trust, operating out of Highland, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CANVAS AND RELATED PRODUCTS
HIGHLAND, IL 62249

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
12616 STATE RTE 143
HIGHLAND, IL 62249

This lender issued this particular commercial loan 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.

SIC Code

2394 - Canvas and Related Products

NAICS Code

314912 - Canvas and Related Product Mills

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 15 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Mid-Illinois Bank & Trust and they will explain how you can get an SBA loan for your company.

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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