Midwest Bank And Trust Company Gives Business Loan to Professional Equipment And Supplies Wholesalers Company

IllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Illinois bank provides the loan.

Getting a small business loan in West Dundee, Illinois was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Midwest Bank And Trust Company. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES WHOLESALERS
WEST DUNDEE, IL 60118

SBA Loan Lender

MIDWEST BANK AND TRUST COMPANY
17622 DEPOT ST
UNION, IL 60180

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421490 - Professional Equipment and Supplies Wholesalers

Loan Approval Date

2/19/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $315,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in West Dundee IL, you ought to talk with a local West Dundee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to West Dundee businesses.

This SBA loan was for $350,000. How would you spend $350,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

SBIR Funding

SBA Participating Banks in Union, Illinois

SBA Lenders in Illinois