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May 6, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elk Grove Village, Business Loans > First American Bank Elk Grove Village Business Loans > Lithographic Commercial Printing Loan | ||||
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SBA 7A Banks in Illinois
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Commercial Lithographic Printing Commercial LoansWith these commercial loans for commercial lithographic printing, the SBA guarantees the lender that the loan will be repaid. This commercial lithographic printing loan for $100,000 was given to an Illinois entrepreneur in 2002. This business knew how to go about getting a business bank loan. Based in Bourbonnais, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First American Bank, based in Elk Grove Village, Illinois. SBA Loan Borrower COMPANY TYPE: LITHOGRAPHIC COMMERCIAL PRINTING SBA Loan Lender FIRST AMERICAN BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2752 - Lithographic Commercial Printing NAICS Code 323110 - Commercial Lithographic Printing Loan Approval Date 6/18/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 7 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First American 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. Related Links: SBA Participating Banks in Elk Grove Village, Illinois
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