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May 9, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Mortgage And Nonmortgage Loan Brokers Loan | ||||
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Elgin Bank Loan
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Elgin, Illinois Lender Lends Money to Mortgage And Nonmortgage Loan Brokers CompanyGet SBA loans from an Elgin, Illinois bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Union National Bank is a Elgin, Illinois small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Illinois company. SBA Loan Borrower COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS SBA Loan Lender UNION NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 2/21/2008 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. 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 32 employees. The SBA loan application for the borrower indicated that the loan would help retain 32 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $200,000 loan. Remember, anyone can do it... so why not you? 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: Role of Business Plan When Raising Money Best Banks for Small Business in Elgin, Illinois
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