 |
 |
May 7, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Illinois Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > Durable Goods Merchant Wholesalers Loan | ||||
 |
||||
Business Loan from Citibank
|
||||
 |
SBA Loan from Citibank Helps Durable Goods Merchant Wholesalers CompanyCitibank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Palatine, Illinois was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Citibank, operating out of Las Vegas, Nevada. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender CITIBANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 5/11/2007 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 13 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citibank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Las Vegas, Nevada Where to Get an SBA Loan Nevada
|
|
||
|
||||
|
|
||||