Commercial Loans for Security Guards and Patrol Services

Looking for commercial loans for security guards and patrol services? The SBA may be the answer. This $999,975 security guards and patrol services loan was issued by an Illinois bank.

This business knew how to go about getting a business bank loan. Based in Chicago, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Albany Bank & Trust, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: SECURITY GUARDS AND PATROL SERVICES
CHICAGO, IL 60607

SBA Loan Lender

ALBANY BANK & TRUST
3400 W LAWRENCE AVE
CHICAGO, IL 60625

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561612 - Security Guards and Patrol Services

Loan Approval Date

10/20/2004

Loan Approval Gross Amount

$999,975

Loan Approval from the SBA

Of the total $999,975 loan amount, the SBA guaranteed $749,981.

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 200 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Albany Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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