Innovative Bank Gives Bank Loan to Poured Concrete Foundation And Structure Contractors Company

Small business loans in Illinois are are few and far betweeen these days. We take a look at one Illinois small business loan, provided by a California bank, that was approved by the SBA.

This business, based in Country Club Hills, 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 Innovative Bank. We've got the inside scoop on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
COUNTRY CLUB HILLS, IL 60478

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

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 small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

11/6/2006

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

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 5 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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