Chicago, Illinois Bank Gives SBA Loan to Hardware Merchant Wholesalers Company

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

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 firm 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: HARDWARE MERCHANT WHOLESALERS
Naperville, IL 60540

SBA Loan Lender

LASALLE BANK
135 S LASALLE ST
CHICAGO, IL 60603

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423710 - Hardware Merchant Wholesalers

Loan Approval Date

5/1/2007

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $280,000 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:

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SBA Approved Banks in Chicago, Illinois

SBA Lenders in Illinois