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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Carpentersville, Business Loans > First American Bank Carpentersville Business Loans > Activities Related To Real Estate Loan | ||||
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SBA 7A Banks for Chicago Businesses
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Growing Company Gets an Illinois SBA LoanIllinoisBank loans are available to Illinois firms through the SBA. In this case, an Illinois bank provides the loan. Getting a small business loan in Chicago, Illinois was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First American Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: ACTIVITIES RELATED TO REAL ESTATE SBA Loan Lender FIRST AMERICAN BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 531390 - Activities Related to Real Estate Loan Approval Date 7/31/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First American Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Banks in Carpentersville, Illinois
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