Harris National Association SBA Loan to Arrangement Of Transportation Of Freight And Cargo Company

Want an Illinois business loan? Here's one Illinois business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Calumet City, Illinois, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Harris National Association, based in Portage, Indiana.

SBA Loan Borrower

COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO
CALUMET CITY, IL 10409

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
6015 US 6
PORTAGE, IN 46368

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

4731 - Arrangement of Transportation of Freight and Cargo

Loan Approval Date

3/29/2000

Loan Approval Gross Amount

$25,500

Loan Approval from the SBA

Of the total $25,500 loan amount, the SBA guaranteed $20,400.

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 only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Harris National Association 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.

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