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November 23, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Buffalo Grove, Business Loans > American Enterprise Bank Buffalo Grove Business Loans > General Automotive Repair Loan | ||||
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SBA Lenders for Villa Park, Illinois Business Owners
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Getting an SBA Loan for General Automotive RepairLooking for SBA loans for general automotive repair? Try the SBA. This $377,300 general automotive repair loan was issued by an Illinois bank. This business knew how to go about getting a business bank loan. Based in Villa Park, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was American Enterprise Bank, based in Buffalo Grove, Illinois. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender AMERICAN ENTERPRISE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 2/5/2008 Loan Approval Gross Amount $377,300 Loan Approval from the SBA Of the total $377,300 loan amount, the SBA guaranteed $282,975. 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 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $377,300 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best Buffalo Grove, Illinois Banks for Small Business
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