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November 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Wired Telecommunications Carriers Loan | ||||
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SBA Lender Schaumburg Illinois
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Illinois Business Loan Issued to Wired Telecommunications Carriers CompanySmall business loans in Illinois are tough to come by these days. We take a look at one Illinois small business loan, provided by an Illinois bank, that was approved by the SBA. Getting a small business loan in Schaumburg, Illinois was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Union National Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: WIRED TELECOMMUNICATIONS CARRIERS SBA Loan Lender UNION NATIONAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 513310 - Wired Telecommunications Carriers Loan Approval Date 7/28/2004 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. 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 9 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Union National 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. Related Links:
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