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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Fifth Third Bank Chicago Business Loans > Commercial And Service Industry Machinery Manufacturing Loan | ||||
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Banks in Chicago, Illinois That Make SBA Loans
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Chicago, Illinois Lender Lends Money to Commercial And Service Industry Machinery Manufacturing CompanyGet to know Chicago, Illinois banks that specialize in small business loans and know how to work with entrepreneurs. Fifth Third Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Menomonee Falls, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Fifth Third Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING SBA Loan Lender FIFTH THIRD BANK This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333319 - Commercial and Service Industry Machinery Manufacturing Loan Approval Date 8/26/2002 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 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. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Borrowing Money from Friends and Family Small Business Banks in Chicago, Illinois
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