Borrowing Money for Electrical Contractors

Looking for loans for electrical contractors? The SBA may be the answer. This $200,000 electrical contractors loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Des Plaines, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was The Foster Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WORK
DES PLAINES, IL 60016

SBA Loan Lender

THE FOSTER BANK
5225 N KEDZIE AVE
CHICAGO, IL 60625

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

1731 - Electrical Work

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

9/18/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Des Plaines IL, you ought to talk with a local Des Plaines SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Des Plaines businesses.

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.

Related Links:

Financing Your Business

SBA Banks in Chicago, Illinois

SBA Participating Banks in Illinois