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May 15, 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 > Sporting Goods Stores Loan | ||||
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Elk Grove Village, Illinois SBA Lenders
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Entrepreneur Works With Elk Grove Village, Illinois Bank to Get an SBA LoanWant to talk with an Elk Grove Village, Illinois bank about an SBA 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 Skokie, Illinois. They received an SBA loan for $250,000. Way to go! SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender FIRST AMERICAN BANK This business loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 4/22/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 14 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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 - Friends and Family SBA Approved Banks in Elk Grove Village, Illinois
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