Getting an SBA Loan for Satellite Telecommunications

Looking for commercial loans for satellite telecommunications? Talk to a banker who works with the SBA. This $455,000 satellite telecommunications loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hinsdale, Illinois was able to borrow $455,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $409,500 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SATELLITE TELECOMMUNICATIONS
HINSDALE, IL 60521

SBA Loan Lender

FIFTH THIRD BANK
222 MERCHANDISE MART PLZ, STE
CHICAGO, IL 60654

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

513340 - Satellite Telecommunications

Loan Approval Date

7/6/2001

Loan Approval Gross Amount

$455,000

Loan Approval from the SBA

Of the total $455,000 loan amount, the SBA guaranteed $409,500.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees 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.

This SBA loan was for $455,000. How would you spend $455,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Debt Financing

Small Business Banks in Chicago, Illinois

SBA Participating Banks in Illinois