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May 2, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Electronic Parts And Equipment Wholesalers Loan | ||||
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Banks for Bensenville, Illinois Small Businesses
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Ge Cap. Small Business Finan Corp Gives Bank Loan to Electronic Parts And Equipment Wholesalers CompanyWould an Illinois business loan help your company expand? If so, you may want to talk with this Missouri bank, which offers SBA loans to Illinois entrepreneurs. You can learn something about getting a small business loan in Bensenville, Illinois by studying this loan to a local business, made back in 2002. Banks like Ge Cap. Small Business Finan Corp may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT WHOLESALERS SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421690 - Electronic Parts and Equipment Wholesalers Loan Approval Date 8/28/2002 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in St. Louis, Missouri SBA Participating Banks in Missouri
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