SBA Loans for Recyclable Material Wholesalers

Looking for SBA loans for recyclable material wholesalers? Try the SBA. This $350,000 recyclable material wholesalers loan was issued by an Illinois bank.

This business knew how to go about getting a business bank loan. Based in Aurora, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was American Chartered Bank, based in Schaumburg, Illinois.

SBA Loan Borrower

COMPANY TYPE: RECYCLABLE MATERIAL WHOLESALERS
AURORA, IL 60504

SBA Loan Lender

AMERICAN CHARTERED BANK
1199 E HIGGINS RD
SCHAUMBURG, IL 60173

This lender issued this debt financing under the SBA 7A lending 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

421930 - Recyclable Material Wholesalers

Loan Approval Date

4/15/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $315,000.

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 only one employee. The SBA loan application for the borrower 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!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Chartered Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Schaumburg, Illinois

Illinois SBA 7A Lenders