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May 2, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Barrington, Business Loans > Harris National Association Barrington Business Loans > Poured Concrete Foundation And Structure Contractors Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Raising Money for Poured Concrete Foundation and Structure ContractorsLooking for business loans for poured concrete foundation and structure contractors? Talk to a banker who works with the SBA. This $100,000 poured concrete foundation and structure contractors loan was issued by an Illinois bank. This business knew how to go about getting a business bank loan. Based in Bensenville, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Harris National Association, based in Barrington, Illinois. SBA Loan Borrower COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS SBA Loan Lender HARRIS NATIONAL ASSOCIATION 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 238110 - Poured Concrete Foundation and Structure Contractors Loan Approval Date 5/3/2004 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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Harris National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in Barrington, Illinois
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