First Choice Bank Gives Business Loan to Special Die And Tool, Die Set, Jig, And Fixture Manufacturing Company

Searching for an Illinois bank loan? This Illinois entrepreneur got a bank loan, provided by an Illinois bank that works with the SBA to help small business owners.

Getting a small business loan in Franklin Park, Illinois was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Choice Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL DIE AND TOOL, DIE SET, JIG, AND FIXTURE MANUFACTURING
FRANKLIN PARK, IL 60131

SBA Loan Lender

FIRST CHOICE BANK
1900 W STATE ST
GENEVA, IL 60134

When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to provide rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333514 - Special Die and Tool, Die Set, Jig, and Fixture Manufacturing

Loan Approval Date

10/27/2004

Loan Approval Gross Amount

$394,000

Loan Approval from the SBA

Of the total $394,000 loan amount, the SBA guaranteed $295,500.

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 24 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Franklin Park IL, you ought to talk with a local Franklin Park SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Franklin Park businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Choice 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:

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SBA Participating Banks in Geneva, Illinois

Getting a Business Loan in Illinois