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May 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Elk Grove Village, Business Loans > First American Bank Elk Grove Village Business Loans > Wholesale Trade Agents And Brokers Loan | ||||
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Illinois SBA Lenders
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Entrepreneur Works With Elk Grove Village, Illinois Bank to Get an SBA LoanAn Elk Grove Village, Illinois business loan can be yours. Learn how a company got a $250,000 business loan from this Illinois bank. This loan to an entrepreneur is a good example of an SBA loan. First American Bank made the loan and the SBA guaranteed a portion of the loan. Many other Florida entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: WHOLESALE TRADE AGENTS AND BROKERS SBA Loan Lender FIRST AMERICAN BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 425120 - Wholesale Trade Agents and Brokers Loan Approval Date 12/6/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $225,000. 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 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First American Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First American Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Approved Banks in Elk Grove Village, Illinois
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