First American Bank SBA Loan to Asphalt Paving Mixture And Block Manufacturing Company

An SBA loan from First American Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Addison, Illinois business owner got a $24,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with First American Bank, out of Carpentersville, Illinois. The loan was granted and they received $24,000 to help grow their Addison, Illinois business.

SBA Loan Borrower

COMPANY TYPE: ASPHALT PAVING MIXTURE AND BLOCK MANUFACTURING
ADDISON, IL 60101

SBA Loan Lender

FIRST AMERICAN BANK
261 S WESTERN AVE, SPRING HIL
CARPENTERSVILLE, IL 60110

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

324121 - Asphalt Paving Mixture and Block Manufacturing

Loan Approval Date

6/29/2007

Loan Approval Gross Amount

$24,000

Loan Approval from the SBA

Of the total $24,000 loan amount, the SBA guaranteed $20,400.

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 16 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 16 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

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:

Financing Your Business

Good Banks for Small Business in Carpentersville, Illinois

Where to Get an SBA Loan Illinois