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May 5, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Park National Bank Chicago Business Loans > Fabricated Metal Products Loan | ||||
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Park National Bank Commercial Loans
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Hardware Manufacturing Commercial LoansWith these commercial loans for hardware manufacturing, the SBA guarantees the lender that the loan will be repaid. This hardware manufacturing loan for $122,500 was given to an Illinois entrepreneur in 2003. Getting a small business loan in Cicero, Illinois was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Park National Bank, operating out of Chicago, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED METAL PRODUCTS SBA Loan Lender PARK NATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3499 - Fabricated Metal Products NAICS Code 332510 - Hardware Manufacturing Loan Approval Date 9/11/2003 Loan Approval Gross Amount $122,500 Loan Approval from the SBA Of the total $122,500 loan amount, the SBA guaranteed $104,125. 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 2 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: How Much Venture Capital Is There? Best Chicago, Illinois Banks for Small Business
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