First Personal Bank SBA Loan to Nonmetallic Mineral Product Manufacturing Company

First Personal Bank has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

Getting a small business loan in Chicago, Illinois was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Personal Bank, operating out of Orland Park, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: NONMETALLIC MINERAL PRODUCT MANUFACTURING
CHICAGO, IL 60617

SBA Loan Lender

FIRST PERSONAL BANK
14701 RAVINIA AVE
ORLAND PARK, IL 60462

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

327999 - Nonmetallic Mineral Product Manufacturing

Loan Approval Date

6/18/2007

Loan Approval Gross Amount

$990,703

Loan Approval from the SBA

Of the total $990,703 loan amount, the SBA guaranteed $743,027.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. This SBA loan request indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $990,703 loan. Remember, fight for what you want, and it will be yours!

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.

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