 |
 |
May 9, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Illinois Business Loan Sources > Orland Park, Business Loans > Bankfinancial, Fsb Orland Park Business Loans > Metal Service Centers And Offices Loan | ||||
 |
||||
Getting a Small Business Loan from Bankfinancial, Fsb
|
||||
 |
SBA Loan from Bankfinancial, Fsb Helps Metal Service Centers And Offices CompanyBankfinancial, Fsb is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bankfinancial, Fsb, out of Orland Park, Illinois. The loan was granted and they received $450,000 to help grow their Schaumburg, Illinois business. SBA Loan Borrower COMPANY TYPE: METAL SERVICE CENTERS AND OFFICES SBA Loan Lender BANKFINANCIAL, FSB This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421510 - Metal Service Centers and Offices Loan Approval Date 3/27/2001 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. 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 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Bankfinancial, Fsb 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: Realistic Debt Financing Options Best Banks in Orland Park, Illinois SBA Participating Banks in Illinois
|
|
||
|
||||
|
|
||||