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May 16, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Tile And Terrazzo Contractors Loan | ||||
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Illinois Small Business Loans from Union National Bank
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Business Loan from Union National Bank Given to Tile And Terrazzo Contractors CompanyAn SBA loan from Union National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Buffalo Grove, Illinois business owner got a $400,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Buffalo Grove, Illinois was able to borrow $400,000 from Union National Bank. The SBA made the loan possible by guaranteeing $300,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: TILE AND TERRAZZO CONTRACTORS SBA Loan Lender UNION NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238340 - Tile and Terrazzo Contractors Loan Approval Date 7/23/2003 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 28 employees. The SBA loan application for the borrower indicated that the loan would help retain 28 existing jobs. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Union National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Role of Business Plan When Raising Money SBA 7A Lenders in Elgin, Illinois
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