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January 21, 2025 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Hotels And Motels Loan | ||||
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Utah Bank SBA Loans
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Merrill Lynch Bank Usa SBA Loan to Hotels And Motels CompanyLooking to get an Illinois small business loan? Here's one Illinois business loan that was approved by the SBA. This small business needed an SBA business loan in Gurnee, Illinois back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Merrill Lynch Bank Usa, operating out of Salt Lake City, Utah. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender MERRILL LYNCH BANK USA This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 1/18/2000 Loan Approval Gross Amount $1,226,000 Loan Approval from the SBA Of the total $1,226,000 loan amount, the SBA guaranteed $749,993. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Gurnee or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - How to Decide How Much to Raise
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