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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > South Cent. Bank Chicago Business Loans > General Long-Distance Freight Trucking Loan | ||||
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SBA Lenders for Businesses in Illinois
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South Cent. Bank Gives Business Loan to General Long-Distance Freight Trucking CompanyLooking to get an Illinois business loan? This Illinois entrepreneur got a business loan, provided by an Illinois bank that works with the SBA to help small business owners. This business, based in Chicago, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from South Cent. Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender SOUTH CENT. BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 11/10/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 20 employees. This SBA loan request indicated that the loan would help retain 20 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into South Cent. Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 7A Banks for Chicago, Illinois Loans
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