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December 26, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Wood Kitchen Cabinet And Countertop Manufacturing Loan | ||||
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SBA Lender Elgin
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Union National Bank SBA Loan to Wood Kitchen Cabinet And Countertop Manufacturing CompanyAn SBA loan from Union National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Elgin, Illinois business owner got a $200,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Union National Bank, out of Elgin, Illinois. The loan was granted and they received $200,000 to help grow their Elgin, Illinois business. SBA Loan Borrower COMPANY TYPE: WOOD KITCHEN CABINET AND COUNTERTOP MANUFACTURING SBA Loan Lender UNION NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 337110 - Wood Kitchen Cabinet and Countertop Manufacturing Loan Approval Date 12/14/2007 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. This loan was not for a franchise. At the time of the loan, the company had 11 employees. This SBA loan request indicated that the loan would help retain 11 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Union National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Good Banks for Small Business in Elgin, Illinois
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