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November 14, 2024  
 
 
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Banks Doing SBA Loans in Illinois

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Buffalo Grove, Illinois Bank to Get an SBA Loan

A Buffalo Grove, Illinois SBA loan can be yours. Learn how a business got a $1,124,770 business loan from this Illinois bank.

This loan to a local firm is a good example of an SBA loan. American Enterprise Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
ELK GROVE VILLAGE, IL 60007

SBA Loan Lender

AMERICAN ENTERPRISE BANK
600 N BUFFALO GROVE RD
BUFFALO GROVE, IL 60089

This debt financing was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA promises a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

6/18/2004

Loan Approval Gross Amount

$1,124,770

Loan Approval from the SBA

Of the total $1,124,770 loan amount, the SBA guaranteed $843,578.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,124,770 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Role of Business Plan When Raising Money

Good Banks for Small Business in Buffalo Grove, Illinois

Getting an SBA Loan in Illinois