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November 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Physicians Loan | ||||
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Union National Bank
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Business Loan from Union National Bank Given to Physicians CompanyAn SBA loan from Union National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Saint Charles, Illinois business owner got a $50,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Charles, Illinois was able to borrow $50,000 from Union National Bank. The SBA made the loan possible by guaranteeing $25,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender UNION NATIONAL BANK This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 621111 - Physicians Loan Approval Date 2/4/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Union National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: How Much Venture Capital Is There? SBA Approved Banks in Elgin, Illinois Getting an SBA Loan in Illinois
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