Raising Money for Periodical Publishers

With these bank loans for periodical publishers, the SBA guarantees the lender that the loan will be repaid. This periodical publishers loan for $1,804,000 was given to an Illinois entrepreneur in 2007.

Getting a small business loan in Barrington, Illinois was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Auburn Hills, Michigan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PERIODICAL PUBLISHERS
BARRINGTON, IL 60010

SBA Loan Lender

COMERICA BANK
3501 HAMLIN RD, STE 1
AUBURN HILLS, MI 48326

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

511120 - Periodical Publishers

Loan Approval Date

4/13/2007

Loan Approval Gross Amount

$1,804,000

Loan Approval from the SBA

Of the total $1,804,000 loan amount, the SBA guaranteed $1,353,000.

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 19 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica 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.

Related Links:

Obtaining Funding - Getting Venture Capital

SBA 7A Banks in Auburn Hills, Michigan

Getting an SBA Loan in Michigan