Illinois Bank Loan Issued to Electrical Equipment And Component Manufacturing Company

IllinoisBank loans are available to Illinois firms through the SBA. In this case, an Illinois bank provides the loan.

Getting a small business loan in Onarga, Illinois was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Centrue Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL EQUIPMENT AND COMPONENT MANUFACTURING
ONARGA, IL 60955

SBA Loan Lender

CENTRUE BANK
310 S SCHUYLER AVE
KANKAKEE, IL 60901

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

12/7/2007

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Onarga IL, you ought to talk with a local Onarga SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Onarga businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Centrue Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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