How to Get a Loan for Construction Machinery Manufacturing

Looking for business loans for construction machinery manufacturing? Talk to a banker who works with the SBA. This $500,000 construction machinery manufacturing loan was issued by an Illinois bank.

This small business knew how to go about getting a business bank loan. Based in Volo, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Peoples' Bank - Arlington Heigh, based in Arlington Heights, Illinois.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MACHINERY MANUFACTURING
VOLO, IL 60073

SBA Loan Lender

PEOPLES' BANK - ARLINGTON HEIGH
10 S VAIL AVE
ARLINGTON HEIGHTS, IL 60005

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, 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

333120 - Construction Machinery Manufacturing

Loan Approval Date

10/30/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Peoples' Bank - Arlington Heigh 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.

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