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December 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Durable Goods Merchant Wholesalers Loan | ||||
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Getting a Small Business Loan in Chicago, Illinois
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Illinois SBA Loan Issued to Durable Goods Merchant Wholesalers CompanyIllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, a North Carolina bank provides the loan. Getting a small business loan in Chicago, Illinois was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender BANK OF AMERICA 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 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 7/8/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Who Lends Money to Small Businesses in Charlotte, North Carolina
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