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May 13, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Wood Product Manufacturing Loan | ||||
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We Needed a Small Business Loan in Cordova, Illinois and We Got One!
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Financing for Wood Product ManufacturingLooking for loans for wood product manufacturing? Talk to a banker who works with the SBA. This $1,950,000 wood product manufacturing loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cordova, Illinois was able to borrow $1,950,000 from Merrill Lynch Bank Usa. The SBA made the loan possible by guaranteeing $749,989 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: WOOD PRODUCT MANUFACTURING SBA Loan Lender MERRILL LYNCH BANK USA This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 321999 - Wood Product Manufacturing Loan Approval Date 12/21/2000 Loan Approval Gross Amount $1,950,000 Loan Approval from the SBA Of the total $1,950,000 loan amount, the SBA guaranteed $749,989. 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 55 employees. The SBA loan documents indicated that the loan would help retain 55 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Salt Lake City, Utah
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