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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Union, Business Loans > Midwest Bank And Trust Company Union Business Loans > Professional Equipment And Supplies Wholesalers Loan | ||||
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Business Loans for West Dundee Small Businesses
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Financing for Professional Equipment and Supplies WholesalersLooking for commercial loans for professional equipment and supplies wholesalers? The SBA may be the answer. This $315,000 professional equipment and supplies wholesalers loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Dundee, Illinois was able to borrow $315,000 from Midwest Bank And Trust Company. The SBA made the loan possible by guaranteeing $283,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES WHOLESALERS SBA Loan Lender MIDWEST BANK AND TRUST COMPANY The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank 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 5/7/2004 Loan Approval Gross Amount $315,000 Loan Approval from the SBA Of the total $315,000 loan amount, the SBA guaranteed $283,500. 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 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. While you may be able to borrow money from friends and family, 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: SBA 7A Banks for Union, Illinois Loans
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