Company Gets an Illinois SBA Loan

Looking to get an Illinois SBA loan? This Illinois entrepreneur got an SBA loan, provided by an Illinois bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Des Plaines, Illinois by studying this loan to a local business, made back in 2003. Banks like Harris National Association may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
DES PLAINES, IL 60016

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
111 W MONROE ST
CHICAGO, IL 60603

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326199 - Plastics Product Manufacturing

Loan Approval Date

8/7/2003

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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