Bank Loans for Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

With these bank loans for lumber, plywood, millwork, and wood panel merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This lumber, plywood, millwork, and wood panel merchant wholesalers loan for $100,000 was given to an Illinois entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Dundee, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First American Bank, based in Carpentersville, Illinois.

SBA Loan Borrower

COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANEL MERCHANT WHOLESALERS
DUNDEE, IL 60118

SBA Loan Lender

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

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

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

NAICS Code

423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

Loan Approval Date

3/12/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, if it to be, it is up to me!

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:

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SBA 7A Banks for Carpentersville, Illinois Loans

Getting a Business Loan in Illinois