Local Business Gets an Illinois Bank Loan
Business loans in Illinois are are few and far betweeen these days. We take a look at one Illinois business loan, provided by a Michigan bank, that was approved by the SBA.
This company, based in Saint Charles, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Fifth Third Bank. We've got the inside scoop on this Illinois small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE GLASS REPLACEMENT SHOPS
SAINT CHARLES, IL 60174
SBA Loan Lender
FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
SIC Code
7536 - Automotive Glass Replacement Shops
NAICS Code
811122 - Automotive Glass Replacement Shops
Loan Approval Date
4/28/2000
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 only one employee. The loan application indicated that the funding would help generate 1 new job.
Start the Process for Getting an SBA Loan Today!
If you are wondering how to raise money for a company in Saint Charles IL, you ought to talk with a local Saint Charles SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saint Charles businesses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Equity Financing
SBA 7A Lenders in Grand Rapids, Michigan
Find an SBA Lender in Michigan