 |
 |
May 14, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Arrangement Of Transportation Of Freight And Cargo Loan | ||||
 |
||||
SBA 7A Banks for Small Businesses in Illinois
|
||||
 |
The Foster Bank Gives Bank Loan to Arrangement Of Transportation Of Freight And Cargo CompanyIllinoisBank loans are available to Illinois firms through the SBA. In this case, an Illinois bank provides the loan. By giving the right information to The Foster Bank, this Elk Grove Village, Illinois business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO SBA Loan Lender THE FOSTER BANK The lender provided this commercial 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. SIC Code 4731 - Arrangement of Transportation of Freight and Cargo NAICS Code 488510 - Freight Transportation Arrangement Loan Approval Date 4/5/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Foster Bank and they will explain how you can get an SBA loan for your company. 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 Chicago, Illinois
|
|
||
|
||||
|
|
||||