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May 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Champaign, Business Loans > Busey Bank Champaign Business Loans > Ready-Mix Concrete Manufacturing Loan | ||||
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Small Business Banks That Lend to Illinois Small Businesses
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Company Gets an Illinois SBA LoanSBA loans in Illinois are tough to come by these days. We take a look at one Illinois SBA loan, provided by an Illinois bank, that was approved by the SBA. You can learn something about getting a small business loan in Tolono, Illinois by studying this loan to a local business, made back in 2006. Banks like Busey Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: READY-MIX CONCRETE MANUFACTURING SBA Loan Lender BUSEY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 327320 - Ready-Mix Concrete Manufacturing Loan Approval Date 2/3/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help create 5 new jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, if it to be, it is up to me! 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: Good Banks for Small Business in Champaign, Illinois
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