Ball and Roller Bearing Manufacturing Loans

With these loans for ball and roller bearing manufacturing, the SBA guarantees the lender that the loan will be repaid. This ball and roller bearing manufacturing loan for $75,000 was given to an Illinois entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Springfield, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bank Of Springfield, based in Springfield, Illinois.

SBA Loan Borrower

COMPANY TYPE: BALL AND ROLLER BEARING MANUFACTURING
SPRINGFIELD, IL 62707

SBA Loan Lender

BANK OF SPRINGFIELD
2600 STEVENSON DR
SPRINGFIELD, IL 62703

This loan for a small business 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

332991 - Ball and Roller Bearing Manufacturing

Loan Approval Date

3/27/2007

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of Springfield had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of Springfield made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA Participating Banks in Springfield, Illinois

Getting a Business Loan in Illinois