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April 27, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Sign Manufacturing Loan | ||||
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Business Loan from Union National Bank
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Union National Bank SBA Loan to Sign Manufacturing 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 Lake Zurich, Illinois business owner got a $100,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Union National Bank, out of Elgin, Illinois. The loan was granted and they received $100,000 to help grow their Lake Zurich, Illinois business. SBA Loan Borrower COMPANY TYPE: SIGN MANUFACTURING SBA Loan Lender UNION NATIONAL BANK This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 339950 - Sign Manufacturing Loan Approval Date 11/17/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Union National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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:
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