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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Residential Remodelers Loan | ||||
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Comerica Bank
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Comerica Bank SBA Loan to Residential Remodelers CompanyComerica Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Yorkville, Illinois was able to borrow $142,200 from Comerica Bank. The SBA made the loan possible by guaranteeing $120,870 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender COMERICA BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 236118 - Residential Remodelers Loan Approval Date 10/20/2004 Loan Approval Gross Amount $142,200 Loan Approval from the SBA Of the total $142,200 loan amount, the SBA guaranteed $120,870. 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 indicated that the loan would help generate 6 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Small Bank Loans in Dallas, Texas
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