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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Peoria, Business Loans > Better Banks Peoria Business Loans > Eating Places Loan | ||||
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Banks in Illinois
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Borrowing Money for Hotels and MotelsWith these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $140,100 was given to an Illinois entrepreneur in 2003. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Better Banks, out of Peoria, Illinois. The loan was granted and they received $140,100 to help grow their Peoria, Illinois business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BETTER BANKS This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/27/2003 Loan Approval Gross Amount $140,100 Loan Approval from the SBA Of the total $140,100 loan amount, the SBA guaranteed $105,075. 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 10 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $140,100. How would you spend $140,100 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:
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