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April 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Best Banks That Lend to Illinois Small Businesses
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Company Gets an Illinois Small Business LoanSBA loans in Illinois are hard to find these days. We take a look at one Illinois SBA loan, provided by a Nevada bank, that was approved by the SBA. Getting a small business loan in Downers Grove, Illinois was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Citibank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender CITIBANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 7/13/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 10 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Downers Grove or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding From a Venture Capitalist SBA Participating Banks in Las Vegas, Nevada
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