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May 7, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Buffalo Grove, Business Loans > American Enterprise Bank Buffalo Grove Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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American Enterprise Bank Small Business Loans Peoria Heights, IL
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Peoria Heights, Illinois Business Gets SBA-Guaranteed Funding from American Enterprise BankAmerican Enterprise Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Peoria Heights, Illinois was able to borrow $477,800 from American Enterprise Bank. The SBA made the loan possible by guaranteeing $358,350 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender AMERICAN ENTERPRISE BANK 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 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 11/4/2004 Loan Approval Gross Amount $477,800 Loan Approval from the SBA Of the total $477,800 loan amount, the SBA guaranteed $358,350. 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 3 employees. The loan application indicated that the loan would help retain 3 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. We can help you find the best banks for small businesses in Peoria Heights 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: Accountant's Role in Securing Financing Best Banks in Buffalo Grove, Illinois
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