Getting an SBA Loan for Commercial Photography

Looking for commercial loans for commercial photography? The SBA may be the answer. This $420,000 commercial photography loan was issued by an Illinois bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Union National Bank, out of Elgin, Illinois. The loan was granted and they received $420,000 to help grow their Normandy Hill, Illinois business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PHOTOGRAPHY
NORMANDY HILL, IL 60062

SBA Loan Lender

UNION NATIONAL BANK
101 E CHICAGO ST
ELGIN, IL 60120

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541922 - Commercial Photography

Loan Approval Date

9/24/2002

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

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 16 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 16 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Union National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Union National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Attracting Investors

SBA Participating Banks in Elgin, Illinois

Illinois SBA Banks