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May 16, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bloomington, Business Loans > Heartland Bank & Trust Bloomington Business Loans > Eating Places Loan | ||||
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Illinois Small Business Funding
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How to Get a Loan for Full-Service RestaurantsWith these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $125,000 was given to an Illinois entrepreneur in 2002. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Heartland Bank & Trust, out of Bloomington, Illinois. The loan was granted and they received $125,000 to help grow their Pekin, Illinois business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender HEARTLAND BANK & TRUST 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. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/4/2002 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start business in Pekin IL, you ought to talk with a local Pekin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pekin businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 Approved Banks in Bloomington, Illinois
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