Bank Loans for Basic Organic Chemical Manufacturing

With these bank loans for basic organic chemical manufacturing, the SBA guarantees the lender that the loan will be repaid. This basic organic chemical manufacturing loan for $55,000 was given to an Illinois entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Oswego, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First American Bank, based in Carpentersville, Illinois.

SBA Loan Borrower

COMPANY TYPE: BASIC ORGANIC CHEMICAL MANUFACTURING
OSWEGO, IL 60543

SBA Loan Lender

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

This lender processed this SBA small business 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

325199 - Basic Organic Chemical Manufacturing

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $27,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First American Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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