Boldmont Lending, a small-business funding service in Urbana, Illinois, takes funding requests from Savoy, IL storefronts and service firms. This page sets out ZIP 61874 Census counts by sector, then covers construction requests, bank loans, borrowing as a sole proprietor and financing a work vehicle, with how to send a request.
At a glance
- Employers with payroll in ZIP61874
163 (ZIP Code Business Patterns 2023)
- Share under five employees, ZIP61874
50.3% (ZIP Code Business Patterns 2023)
- Champaign County, IL businesses that run a payroll
4,237 (CBP 2023)
Savoy, IL in ZIP 61874 Census counts
Savoy, IL is a village southwest of Urbana, IL in Champaign County, IL. Its postal ZIP, 61874, also covers land outside the village.
ZIP 61874 had 163 employer establishments in 2023 (ZIP Code Business Patterns 2023), and 50.3% had fewer than five employees. They reported 2,258 paid employees in the March 2023 pay period and about $99.3 million in annual payroll. Savoy, IL covers 46.9% of the ZIP's land, so these are ZIP figures, not town figures.
| Sector | Establishments |
|---|---|
| Health Care and Social Assistance | 30 |
| Retail Trade | 23 |
| Accommodation and Food Services | 18 |
| Real Estate and Rental and Leasing | 16 |
| Professional, Scientific, and Technical Services | 16 |
| Other Services | 16 |
| Finance and Insurance | 9 |
| Administrative and Support | 8 |
How to get a business loan for construction in Urbana, IL
A contractor's request, whether from Savoy, IL or Urbana, IL, rests on the jobs: contracts in hand, progress payment schedules and retainage. Equipment goes on equipment financing ; crew and materials costs between draws go on working capital or a line of credit.
How to get a business loan from a bank
A bank reviews tax returns, financial statements and collateral, and may ask for a personal guarantee. It may also want a deposit relationship. Banks, credit unions and other funders each set their own criteria; the records they read overlap, so gathering them once serves every application.
How to get a business loan for a sole proprietorship in Champaign County, IL
A sole proprietor and the business are the same legal person, so the partner reads the owner's personal tax return, with Schedule C, alongside the business bank account. Keep a separate business account even without an entity; it makes the deposits readable.
How to get a business loan for a vehicle in Urbana, IL
A work vehicle titled to the business can be financed as equipment. Bring the buyer's order or bill of sale, the VIN and mileage, and proof of insurance naming the partner as loss payee.
Health practices in ZIP 61874 near Savoy, IL
Health Care and Social Assistance had 30 employer establishments in ZIP 61874 in 2023 (ZBP), more than any other sector in that ZIP. A practice buys equipment up front and waits on insurance reimbursements after each visit, so its requests split between equipment financing and a line for the reimbursement gap. Dental practice loans and chiropractic and optometry financing each have a page.
Property and real estate firms in ZIP 61874, Savoy, IL
Real Estate and Rental and Leasing had 16 employer establishments in ZIP 61874 in 2023 (ZBP), and 68.8% of them had fewer than five employees. A real estate office is paid at closing, weeks after the work starts, while office rent, marketing and desk costs run every month. The real estate office page covers commission timing and how a partner reads it.
Requests from Savoy, IL to Boldmont Lending
Savoy, IL is about 4.4 miles southwest of the Boldmont office in Urbana, IL, measured in a straight line. Requests come by phone at (217) 319-6375 and through the online form . An estimated 8.6% of employed Savoy, IL residents are self-employed (ACS 2020-2024 5-year estimate, with a wide margin of error).
See all Champaign County, IL town pages , county counts on Boldmont's page on Urbana, IL , and trade notes on the industry pages .
Employers served from Savoy, IL
Partners take requests from Savoy, IL shops, practices and contractors alike, such as contractors and construction trades, restaurants and food service, medical and dental practices or retailers and wholesalers that carry stock. The reviewing partner decides on its own terms, case by case.
Application documents for a Savoy, IL request
- Statements from every business bank account covering the past three to six months
- A copy of the newest business return and, if requested, your personal return
- A recent profit and loss report and a matching balance sheet
- Proof of registration with the state and the EIN confirmation letter
- An overview of outstanding obligations and what each one costs per month
- A quote from the equipment vendor with the model and total price
What a partner requests depends on the partner, so use this list as a guide.
Next steps after a phone call from Savoy, IL
- Reach the office at (217) 319-6375 or fill out the request form, noting what the money is for.
- From there the request goes to partners whose products match the purpose you described.
- A lending partner studies the file and decides independently.
- Look at the total cost, the schedule and the conditions of any offer; you decide whether to accept.
Business owners in Savoy, IL can start and finish a request by phone or through the form.
By Boldmont Lending · Updated