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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Crystal Lake, Business Loans > Home St. Bank/natl Association Crystal Lake Business Loans > Commercial Printing Loan | ||||
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Get an SBA Loan in Algonquin, Illinois
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Algonquin, Illinois Entrepreneur Gets a Bank LoanBusiness loans in Illinois are tough to come by these days. We take a look at one Illinois business loan, provided by an Illinois bank, that was approved by the SBA. This company, based in Algonquin, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Home St. Bank/natl Association. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL PRINTING SBA Loan Lender HOME ST. BANK/NATL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 323119 - Commercial Printing Loan Approval Date 10/18/2004 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $42,500. 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 SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Algonquin 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: Good Banks for Small Business in Crystal Lake, Illinois
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