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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Buffalo Grove, Business Loans > American Enterprise Bank Buffalo Grove Business Loans > Car Washes Loan | ||||
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Illinois Bank SBA Loans
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Buffalo Grove, Illinois Bank Lends Money to Car Washes Company in Evanston, IllinoisWant to talk with a Buffalo Grove, Illinois bank about an SBA loan? Here's one Illinois business loan, issued by a Buffalo Grove bank, that was approved by the SBA. Applying for an SBA loan with American Enterprise Bank worked out well for our friends at one local firm in Evanston, Illinois. They got an SBA loan for $1,245,000. Way to go! SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender AMERICAN ENTERPRISE BANK 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 811192 - Car Washes Loan Approval Date 1/13/2005 Loan Approval Gross Amount $1,245,000 Loan Approval from the SBA Of the total $1,245,000 loan amount, the SBA guaranteed $933,750. 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 3 employees. The loan application indicated that the loan would help retain 3 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Buffalo Grove, Illinois
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