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November 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Special Trade Contractors Loan | ||||
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Illinois Bank SBA Loans
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Union National Bank SBA Loan to Special Trade Contractors CompanyLooking to get an Illinois business loan? Here's one Illinois business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hanover Highlands, Illinois was able to borrow $315,000 from Union National Bank. The SBA made the loan possible by guaranteeing $236,250 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender UNION NATIONAL BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1799 - Special Trade Contractors Loan Approval Date 4/24/2000 Loan Approval Gross Amount $315,000 Loan Approval from the SBA Of the total $315,000 loan amount, the SBA guaranteed $236,250. 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 10 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Union National 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. Related Links: Who Lends Money to Small Businesses in Elgin, Illinois
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