South Cent. Bank Gives Small Business Loan to Electrical Contractors Company

Would an Illinois bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs.

You can learn something about getting a small business loan in Chicago, Illinois by studying this loan to a local company, made back in 2005. Banks like South Cent. Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
CHICAGO, IL 60607

SBA Loan Lender

SOUTH CENT. BANK
525 W ROOSEVELT RD
CHICAGO, IL 60607

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

235310 - Electrical Contractors

Loan Approval Date

9/1/2005

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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Banks in Chicago, Illinois

Illinois SBA Bank Lenders