First American Bank SBA Loan to Automotive Mechanical And Electrical Repair And Maintenance Company

An SBA loan from First American Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Orland Park, Illinois business owner got a $60,000 loan.

Getting a small business loan in Orland Park, Illinois was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First American Bank, operating out of Carpentersville, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
ORLAND PARK, IL 60467

SBA Loan Lender

FIRST AMERICAN BANK
261 S WESTERN AVE, SPRING HIL
CARPENTERSVILLE, IL 60110

This lender processed this 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

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

1/31/2007

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Orland Park or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Credit Cards

Small Business Banks in Carpentersville, Illinois

Illinois SBA Banks