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May 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Itasca, Business Loans > First Midwest Bank Itasca Business Loans > Hardware Wholesalers Loan | ||||
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Tips for Businesses On Getting a Loan
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Bank Loans for Hardware WholesalersLooking for bank loans for hardware wholesalers? Try the SBA. This $700,000 hardware wholesalers loan was issued by an Illinois bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Midwest Bank, out of Itasca, Illinois. The loan was granted and they received $700,000 to help grow their Alsip, Illinois business. SBA Loan Borrower COMPANY TYPE: HARDWARE WHOLESALERS SBA Loan Lender FIRST MIDWEST BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421710 - Hardware Wholesalers Loan Approval Date 9/4/2002 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 22 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Midwest Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Microlending as a Small Business Funding Source Where to Get an SBA Loan in Itasca, Illinois Getting an SBA Loan in Illinois
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