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May 13, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Carpentersville, Business Loans > First American Bank Carpentersville Business Loans > Beauty Salons Loan | ||||
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Banks Doing SBA Loans in Illinois
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Carpentersville, Illinois Bank Gives SBA Loan to Beauty Salons CompanyGet business loans from a Carpentersville, Illinois bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. First American Bank is a Carpentersville, Illinois small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Illinois company. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender FIRST AMERICAN BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 1/31/2007 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. 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 4 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First American Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First American Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Role of Business Plan When Raising Money Good Banks for Small Business in Carpentersville, Illinois
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