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May 8, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Schaumburg, Business Loans > American Chartered Bank Schaumburg Business Loans > Toys And Hobby Goods And Supplies Loan | ||||
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Illinois Small Business Loans from American Chartered Bank
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SBA Loan from American Chartered Bank Helps Toys And Hobby Goods And Supplies CompanyAmerican Chartered Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Naperville, Illinois was able to borrow $40,000 from American Chartered Bank. The SBA made the loan possible by guaranteeing $32,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: TOYS AND HOBBY GOODS AND SUPPLIES SBA Loan Lender AMERICAN CHARTERED BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5092 - Toys and Hobby Goods and Supplies NAICS Code 421920 - Toy and Hobby Goods and Supplies Wholesalers Loan Approval Date 2/25/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. 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 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you have been wondering how do i get money to start a business in Naperville IL, you ought to talk with a local Naperville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Naperville businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Raising VC Money for Social Networking Companies SBA Participating Banks in Schaumburg, Illinois
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