Addison, Illinois Business Gets SBA-Guaranteed Funding from Lasalle Bank

Lasalle Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Addison, Illinois was able to borrow $164,000 from Lasalle Bank. The SBA made the loan possible by guaranteeing $82,000 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
ADDISON, IL 60101

SBA Loan Lender

LASALLE BANK
135 S LASALLE ST
CHICAGO, IL 60603

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

332710 - Machine Shops

Loan Approval Date

1/18/2005

Loan Approval Gross Amount

$164,000

Loan Approval from the SBA

Of the total $164,000 loan amount, the SBA guaranteed $82,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 14 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Addison IL, you ought to talk with a local Addison SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Addison businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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:

Getting a Small Business Loan

SBA 7A Lenders in Chicago, Illinois

Where to Get an SBA Loan Illinois