Bank Loans for Plumbing Fixtures, China and Earthenware Bathroom Accessories

With these bank loans for plumbing fixtures, china and earthenware bathroom accessories, the SBA guarantees the lender that the loan will be repaid. This plumbing fixtures, china and earthenware bathroom accessories loan for $150,000 was given to an Illinois entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Chicago Heights, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Harris National Association, based in Frankfort, Illinois.

SBA Loan Borrower

COMPANY TYPE: VITREOUS CHINA PLUMBING FIXTURES AND EARTHENWARE
CHICAGO HEIGHTS, IL 60415

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
690 N LAGRANGE RD
FRANKFORT, IL 60423

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3261 - Vitreous China Plumbing Fixtures and Earthenware

NAICS Code

327111 - Plumbing Fixtures, China and Earthenware Bathroom Accessories

Loan Approval Date

7/17/2001

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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