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April 29, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Plano, Business Loans > Beal Bank, D/b/a Beal Bank Plano Business Loans > Plumbing, Heating, And Air-Conditioning Loan | ||||
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SBA Lenders in Chicago
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Business Loan from Beal Bank, D/b/a Beal Bank Given to Plumbing, Heating, And Air-Conditioning CompanyBeal Bank, D/b/a Beal Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chicago, Illinois was able to borrow $144,000 from Beal Bank, D/b/a Beal Bank. The SBA made the loan possible by guaranteeing $108,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING SBA Loan Lender BEAL BANK, D/B/A BEAL BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1711 - Plumbing, Heating, and Air-Conditioning NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 8/23/2000 Loan Approval Gross Amount $144,000 Loan Approval from the SBA Of the total $144,000 loan amount, the SBA guaranteed $108,000. 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 only one employee. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $144,000 loan. Remember, fight for what you want, and it will be yours! 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 Participating Banks in Plano, Texas
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