Entrepreneur Works With Carpentersville, Illinois Bank to Get an SBA Loan

Get to know Carpentersville, Illinois banks that specialize in SBA loans and know how to work with entrepreneurs. First American Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Davie, Florida starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from First American Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS
DAVIE, FL 33331

SBA Loan Lender

FIRST AMERICAN BANK
261 S WESTERN AVE, SPRING HIL
CARPENTERSVILLE, IL 60110

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423440 - Commercial Equipment Merchant Wholesalers

Loan Approval Date

7/12/2007

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 50 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 40 existing jobs.

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

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First American Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

Small Business Banks in Carpentersville, Illinois

Getting an SBA Loan in Illinois