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May 1, 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 > Professional Organizations Loan | ||||
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Raising Money in Chicago, Illinois With SBA Loans
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Illinois Business Loan Issued to Professional Organizations CompanySBA loans in Illinois are hard to find these days. We take a look at one Illinois SBA loan, provided by an Illinois bank, that was approved by the SBA. Getting a small business loan in Chicago, Illinois was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First American Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL ORGANIZATIONS SBA Loan Lender FIRST AMERICAN BANK This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 813920 - Professional Organizations Loan Approval Date 12/16/2004 Loan Approval Gross Amount $300,600 Loan Approval from the SBA Of the total $300,600 loan amount, the SBA guaranteed $225,450. 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 2 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Where to Get an SBA Loan in Elk Grove Village, Illinois
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