Entrepreneur Works With Aurora, Illinois Bank to Get an SBA Loan

Get to know Aurora, Illinois banks that specialize in business loans and know how to work with entrepreneurs. Old Second National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Aurora, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Old Second National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BOLTS, NUTS, SCREWS, RIVETS, AND WASHERS
AURORA, IL 60506

SBA Loan Lender

OLD SECOND NATIONAL BANK
37 S RIVER ST
AURORA, IL 60507

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3452 - Bolts, Nuts, Screws, Rivets, and Washers

NAICS Code

332722 - Bolt, Nut, Screw, Rivet, and Washer Manufacturing

Loan Approval Date

8/11/2000

Loan Approval Gross Amount

$865,000

Loan Approval from the SBA

Of the total $865,000 loan amount, the SBA guaranteed $648,750.

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 business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Old Second National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Old Second National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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