Hinsdale, Illinois Entrepreneur Gets a Business Loan

IllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Illinois bank provides the loan.

Getting a small business loan in Hinsdale, Illinois was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Union National Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
HINSDALE, IL 60521

SBA Loan Lender

UNION NATIONAL BANK
101 E CHICAGO ST
ELGIN, IL 60120

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to provide fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

3/8/2005

Loan Approval Gross Amount

$1,470,000

Loan Approval from the SBA

Of the total $1,470,000 loan amount, the SBA guaranteed $1,102,500.

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 35 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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