Raising Money for Grocery and Related Products Wholesalers

With these business loans for grocery and related products wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products wholesalers loan for $50,000 was given to an Illinois entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Antioch, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was State Bank Of The Lakes, based in Antioch, Illinois.

SBA Loan Borrower

COMPANY TYPE: GROCERIES AND RELATED PRODUCTS
ANTIOCH, IL 60002

SBA Loan Lender

STATE BANK OF THE LAKES
440 LAKE ST
ANTIOCH, IL 60002

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5149 - Groceries and Related Products

NAICS Code

422490 - Grocery and Related Products Wholesalers

Loan Approval Date

11/1/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

While you may be able to find business people willing to loan money, 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.

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