Borrowing Money for Chemical Product and Preparation Manufacturing

Looking for bank loans for chemical product and preparation manufacturing? Try the SBA. This $1,295,000 chemical product and preparation manufacturing loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Flossmoor, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Lasalle Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL PRODUCT AND PREPARATION MANUFACTURING
Flossmoor, IL 60422

SBA Loan Lender

LASALLE BANK
3201 N ASHLAND AVE
CHICAGO, IL 60657

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

325998 - Chemical Product and Preparation Manufacturing

Loan Approval Date

3/23/2006

Loan Approval Gross Amount

$1,295,000

Loan Approval from the SBA

Of the total $1,295,000 loan amount, the SBA guaranteed $971,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lasalle 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.

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