Where to Get Capital for Electronic Parts and Equipment Wholesalers

Looking for small business loans for electronic parts and equipment wholesalers? Talk to a banker who works with the SBA. This $1,100,000 electronic parts and equipment wholesalers loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Lake In The Hills, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Home St. Bank/natl Association, based in Crystal Lake, Illinois.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT WHOLESALERS
LAKE IN THE HILLS, IL 60102

SBA Loan Lender

HOME ST. BANK/NATL ASSOCIATION
40 GRANT ST
CRYSTAL LAKE, IL 60014

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421690 - Electronic Parts and Equipment Wholesalers

Loan Approval Date

2/1/2002

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $990,000.

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 28 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,100,000 loan. Remember, you control your own destiny.

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:

Alternative Financing

Small Business Banks in Crystal Lake, Illinois

Browse All Business Loan Sources for Illinois