Illinois SBA Loan Issued to Professional Equipment And Supplies Wholesalers Company

Would an Illinois business loan help your company expand? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs.

This business, based in Carol Stream, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Old Second National Bank. We've got the inside scoop on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES WHOLESALERS
CAROL STREAM, IL 60188

SBA Loan Lender

OLD SECOND NATIONAL BANK
37 S RIVER ST
AURORA, IL 60507

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421490 - Professional Equipment and Supplies Wholesalers

Loan Approval Date

12/28/2000

Loan Approval Gross Amount

$833,333

Loan Approval from the SBA

Of the total $833,333 loan amount, the SBA guaranteed $750,000.

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 10 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Credit Cards

Find an SBA Lender in Aurora, Illinois

Illinois SBA 7A Banks