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May 4, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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How Hard Is It to Get a Small Business Loan in Westmont, Illinois?
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Automotive Body, Paint, and Interior Repair and Maintenance Small Business LoansLooking for small business loans for automotive body, paint, and interior repair and maintenance? An SBA loan may be just what you've been looking for. This $35,000 automotive body, paint, and interior repair and maintenance loan was issued by an Illinois bank. Getting a small business loan in Westmont, Illinois was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Bannockburn, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender NATIONAL CITY BANK The lender provided this SBA business 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 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 3/11/2004 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan If you want money for new small business in Westmont IL, you ought to talk with a local Westmont SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Westmont businesses. 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 National City Bank 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: Best Banks for Small Business in Bannockburn, Illinois
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