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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 > Dental Equipment And Supplies Manufacturing Loan | ||||
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SBA 7A Banks for Entrepreneurs in Illinois
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Illinois SBA Loan Issued to Dental Equipment And Supplies Manufacturing CompanyWould an Illinois business loan help your company expand? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs. Getting a small business loan in Mchenry, Illinois was a top priority for this SBA-financed company back in 2003 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: DENTAL EQUIPMENT AND SUPPLIES MANUFACTURING SBA Loan Lender THE FOSTER BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339114 - Dental Equipment and Supplies Manufacturing Loan Approval Date 4/29/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Borrowing Money from Friends and Family Small Business Banks in Chicago, Illinois
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