Motor and Generator Manufacturing Small Business Loans

With these small business loans for motor and generator manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor and generator manufacturing loan for $350,000 was given to an Illinois entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Spring Grove, Illinois was able to borrow $350,000 from Home St. Bank/natl Association. The SBA made the loan possible by guaranteeing $175,000 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR AND GENERATOR MANUFACTURING
SPRING GROVE, IL 60081

SBA Loan Lender

HOME ST. BANK/NATL ASSOCIATION
40 GRANT ST
CRYSTAL LAKE, IL 60014

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

335312 - Motor and Generator Manufacturing

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $350,000 loan. Remember, fight for what you want, and it will be yours!

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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