Franklin Park, Illinois Business Gets SBA-Guaranteed Funding from Banco Popular North America

An SBA loan from Banco Popular North America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Franklin Park, Illinois business owner got a $89,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Franklin Park, Illinois was able to borrow $89,000 from Banco Popular North America. The SBA made the loan possible by guaranteeing $75,650 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PRINTING TRADES MACHINERY AND EQUIPMENT
FRANKLIN PARK, IL 60131

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3555 - Printing Trades Machinery and Equipment

NAICS Code

333293 - Printing Machinery and Equipment Manufacturing

Loan Approval Date

12/16/2002

Loan Approval Gross Amount

$89,000

Loan Approval from the SBA

Of the total $89,000 loan amount, the SBA guaranteed $75,650.

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 loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banco Popular North America and they will explain how you can get an SBA loan for your company.

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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