Firm Gets an Illinois Business Loan

Would an Illinois small business loan help your small business to grow and prosper? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs.

Getting a small business loan in Sparta, Illinois was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First National Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE THEATERS
SPARTA, IL 62286

SBA Loan Lender

FIRST NATIONAL BANK
101 W BROADWAY
SPARTA, IL 62286

This debt financing 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

7832 - Motion Picture Theaters

NAICS Code

512131 - Motion Picture Theaters

Loan Approval Date

3/10/2000

Loan Approval Gross Amount

$857,314

Loan Approval from the SBA

Of the total $857,314 loan amount, the SBA guaranteed $642,986.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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