Evanston, Illinois Bank Gives SBA Loan to Audio And Video Equipment Manufacturing Company

Thinking about meeting with an Evanston, Illinois bank about a small business loan? Here's one Illinois business loan, issued by an Evanston bank, that was approved by the SBA.

Applying for an SBA loan with First Bank & Trust worked out well for our friends at one local business in Carol Stream, Illinois. They got an SBA loan for $250,000. Great job!

SBA Loan Borrower

COMPANY TYPE: AUDIO AND VIDEO EQUIPMENT MANUFACTURING
CAROL STREAM, IL 60188

SBA Loan Lender

FIRST BANK & TRUST
820 CHURCH ST
EVANSTON, IL 60201

This lender issued this bank loan under the SBA 7A lending 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

334310 - Audio and Video Equipment Manufacturing

Loan Approval Date

7/19/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 55 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Carol Stream IL, you ought to talk with a local Carol Stream SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Carol Stream businesses.

This SBA loan was for $250,000. How would you spend $250,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Startup Funding Tip

Where to Get an SBA Loan in Evanston, Illinois

Getting a Business Loan in Illinois