Harris National Association SBA Loan to Reupholstery And Furniture Repair Company

Looking to get an Illinois small business loan? Here's one Illinois business loan that was approved by the SBA.

This small business needed an SBA business loan in Batavia, Illinois back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Harris National Association, operating out of Saint Charles, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR
BATAVIA, IL 60510

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
1 E MAIN ST
SAINT CHARLES, IL 60174

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7641 - Reupholstery and Furniture Repair

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

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 9 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Harris National Association and they will explain how you can get an SBA loan for your company.

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

SBA Participating Banks in Saint Charles, Illinois

SBA Lenders in Illinois