Iron and Steel Forging Business Loans

With these business loans for iron and steel forging, the SBA guarantees the lender that the loan will be repaid. This iron and steel forging loan for $250,000 was given to an Illinois entrepreneur in 2007.

Getting a small business loan in Cary, Illinois was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Jpmorgan Chase Bank, operating out of Houston, Texas. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL FORGING
CARY, IL 60013

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

332111 - Iron and Steel Forging

Loan Approval Date

3/2/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 23 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 28 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $250,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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Small Business Banks in Houston, Texas

Texas SBA Banks