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December 20, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Chicago, Business Loans > Fifth Third Bank Chicago Business Loans > Truss Manufacturing Loan | ||||
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Chicago, Illinois Bank for SBA Loans
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Chicago, Illinois Bank Gives SBA Loan to Truss Manufacturing CompanyA Chicago, Illinois SBA loan can be yours. Learn how one firm got a $503,000 business loan from this Illinois bank. This loan to a local firm is a good example of an SBA loan. Fifth Third Bank made the loan and the SBA guaranteed a portion of the loan. Many other Indiana entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: TRUSS MANUFACTURING SBA Loan Lender FIFTH THIRD BANK This small 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 321214 - Truss Manufacturing Loan Approval Date 12/10/2003 Loan Approval Gross Amount $503,000 Loan Approval from the SBA Of the total $503,000 loan amount, the SBA guaranteed $452,700. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Advice on Getting a Small Business Loan SBA Banks in Chicago, Illinois Getting an SBA Loan in Illinois
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