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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Barrington, Business Loans > Harris National Association Barrington Business Loans > Beauty Salons Loan | ||||
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Getting a Business Loan from Harris National Association
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Business Loan from Harris National Association Given to Beauty Salons CompanyHarris National Association 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. Getting a small business loan in Buffalo Grove, Illinois was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Harris National Association, operating out of Barrington, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender HARRIS NATIONAL ASSOCIATION 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 812112 - Beauty Salons Loan Approval Date 5/18/2004 Loan Approval Gross Amount $20,500 Loan Approval from the SBA Of the total $20,500 loan amount, the SBA guaranteed $10,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business If you are working on finding money to start a business in Buffalo Grove IL, you ought to talk with a local Buffalo Grove SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Buffalo Grove businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Harris National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Lenders in Barrington, Illinois
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