Chicago, Illinois Lender Lends Money to Curtain And Drapery Mills Company

Find Chicago, Illinois banks that specialize in business loans and know how to work with entrepreneurs. Lasalle Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Naperville, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Lasalle Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CURTAIN AND DRAPERY MILLS
Naperville, IL 60540

SBA Loan Lender

LASALLE BANK
135 S LASALLE ST
CHICAGO, IL 60603

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

314121 - Curtain and Drapery Mills

Loan Approval Date

6/29/2007

Loan Approval Gross Amount

$180,200

Loan Approval from the SBA

Of the total $180,200 loan amount, the SBA guaranteed $90,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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