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May 13, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elk Grove Village, Business Loans > First American Bank Elk Grove Village Business Loans > Periodical Publishers Loan | ||||
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Elk Grove Village, Illinois SBA 7A Banks
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Elk Grove Village, Illinois Lender Lends Money to Periodical Publishers CompanyWant to talk with an Elk Grove Village, Illinois bank about a business loan? Here's one Illinois business loan, issued by an Elk Grove Village bank, that was approved by the SBA. Applying for an SBA loan with First American Bank worked out well for our friends at one local company in Rolling Meadows, Illinois. The business was able to get an SBA loan for $150,000. Great job! SBA Loan Borrower COMPANY TYPE: PERIODICAL PUBLISHERS SBA Loan Lender FIRST AMERICAN 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. NAICS Code 511120 - Periodical Publishers Loan Approval Date 5/26/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. We've showcased information on this loan to let you know that businesses like yours 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: Obtaining Funding - How to Borrow Money Best Banks for Small Business in Elk Grove Village, Illinois
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