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May 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Industrial Machinery And Equipment Wholesalers Loan | ||||
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Elk Grove Village SBA Loans
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Elk Grove Village, Illinois Entrepreneur Gets a Business LoanSmall business loans in Illinois are are few and far betweeen these days. We take a look at one Illinois small business loan, provided by an Illinois bank, that was approved by the SBA. Getting a small business loan in Elk Grove Village, Illinois was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The Foster Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS SBA Loan Lender THE FOSTER BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421830 - Industrial Machinery and Equipment Wholesalers Loan Approval Date 3/26/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $90,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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
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