Manufacturing and Industrial Building Construction Business Loans

With these business loans for manufacturing and industrial building construction, the SBA guarantees the lender that the loan will be repaid. This manufacturing and industrial building construction loan for $500,000 was given to an Illinois entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Palatine, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Union National Bank, based in Elgin, Illinois.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING AND INDUSTRIAL BUILDING CONSTRUCTION
PALATINE, IL 60067

SBA Loan Lender

UNION NATIONAL BANK
101 E CHICAGO ST
ELGIN, IL 60120

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233310 - Manufacturing and Industrial Building Construction

Loan Approval Date

12/4/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Understanding Dilution

Banks in Elgin, Illinois

Getting an SBA Loan in Illinois