Aurora, IL Entrepreneur Gets SBA Loan to Buy Option Care Franchise

Borrowing money to invest in an Option Care franchise? Old Second National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Aurora, Illinois and are interested in buying an Option Care franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Old Second National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

OPTION CARE
AURORA, IL 60506

SBA Loan Lender

OLD SECOND NATIONAL BANK
37 S RIVER ST
AURORA, IL 60507

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2834 - Pharmaceutical Preparations

NAICS Code

325412 - Pharmaceutical Preparation Manufacturing

Loan Approval Date

1/4/2002

Loan Approval Gross Amount

$133,520

Loan Approval from the SBA

Of the total $133,520 loan amount, the SBA guaranteed $113,492.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Option Care franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Aurora IL, you ought to talk with a local Aurora SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Aurora businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Old Second National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 7A Banks for Aurora, Illinois Loans

SBA Lenders in Illinois