Aurora, Illinois Bank Lends Money to Industrial Machinery And Equipment Merchant Wholesalers Company in West Chicago, Illinois

Want to talk with an Aurora, Illinois bank about a business loan? Here's one Illinois business loan, issued by an Aurora bank, that was approved by the SBA.

Applying for an SBA loan with Old Second National Bank worked out well for our friends at one local business in West Chicago, Illinois. They got an SBA loan for $650,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS
WEST CHICAGO, IL 60185

SBA Loan Lender

OLD SECOND NATIONAL BANK
37 S RIVER ST
AURORA, IL 60507

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423830 - Industrial Machinery and Equipment Merchant Wholesalers

Loan Approval Date

10/24/2003

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 21 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Business Credit Evaluation

SBA 7A Banks for Aurora, Illinois Loans

Illinois SBA Bank Lenders