Bolingbrook, IL Entrepreneur Gets SBA Loan to Buy Instant Imprints Franchise

Need money to purchase an Instant Imprints franchise? First Choice Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Instant Imprints franchise? If so, here's a 2005 SBA franchise loan that you should know about. First Choice Bank was the lender and the entrepreneur was based in Bolingbrook, Illinois.

SBA Loan Borrower

INSTANT IMPRINTS
BOLINGBROOK, IL 60440

SBA Loan Lender

FIRST CHOICE BANK
1900 W STATE ST
GENEVA, IL 60134

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323113 - Commercial Screen Printing

Loan Approval Date

5/12/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Instant Imprints franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must 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.

We can help you find the best banks for small businesses in Bolingbrook or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Instant Imprints

Getting a Small Business Loan

Find an SBA Lender in Geneva, Illinois

Getting a Business Loan in Illinois