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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 > Offices And Clinics Of Doctors Of Medicine Loan | ||||
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Examples of South Elgin SBA Loans
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Physicians Commercial LoansLooking for commercial loans for physicians? The SBA may be the answer. This $95,000 physicians loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Elgin, Illinois was able to borrow $95,000 from Union National Bank. The SBA made the loan possible by guaranteeing $80,750 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender UNION NATIONAL BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8011 - Offices and Clinics of Doctors of Medicine NAICS Code 621111 - Physicians Loan Approval Date 11/25/2003 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $80,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Union National Bank 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: The Friends and Family Network Small Bank Loans in Elgin, Illinois
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