Elgin, Illinois Bank Lends Money to Home Furnishing Merchant Wholesalers Company in Carpentersville, Illinois

Find Elgin, Illinois banks that specialize in small business loans and know how to work with entrepreneurs. Union National Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Carpentersville, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Union National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS
CARPENTERSVILLE, IL 60110

SBA Loan Lender

UNION NATIONAL BANK
101 E CHICAGO ST
ELGIN, IL 60120

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423220 - Home Furnishing Merchant Wholesalers

Loan Approval Date

2/19/2003

Loan Approval Gross Amount

$268,000

Loan Approval from the SBA

Of the total $268,000 loan amount, the SBA guaranteed $201,000.

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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Carpentersville IL, you ought to talk with a local Carpentersville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Carpentersville businesses.

We've showcased information on this loan to let you know that businesses like yours 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.

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