Peoria, Illinois Bank Gives SBA Loan to Drug Stores And Proprietary Stores Company

Find Peoria, Illinois banks that specialize in SBA loans and know how to work with entrepreneurs. South Side Tr & Savings Bank - P is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Peoria, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from South Side Tr & Savings Bank - P. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DRUG STORES AND PROPRIETARY STORES
PEORIA, IL 61604

SBA Loan Lender

SOUTH SIDE TR & SAVINGS BANK - P
2119 SW ADAMS ST
PEORIA, IL 61602

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

5912 - Drug Stores and Proprietary Stores

NAICS Code

621999 - Ambulatory Health Care Services

Loan Approval Date

2/20/2007

Loan Approval Gross Amount

$1,205,000

Loan Approval from the SBA

Of the total $1,205,000 loan amount, the SBA guaranteed $903,750.

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 16 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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