Kankakee, Illinois Lender Lends Money to Full-Service Restaurants Company

Get to know Kankakee, Illinois banks that specialize in small business loans and know how to work with entrepreneurs. First Trust Bank Of Illinois is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Bradley, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First Trust Bank Of Illinois. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BRADLEY, IL 60915

SBA Loan Lender

FIRST TRUST BANK OF ILLINOIS
275 E COURT ST
KANKAKEE, IL 60901

This bank 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

722110 - Full-Service Restaurants

Loan Approval Date

4/4/2003

Loan Approval Gross Amount

$492,000

Loan Approval from the SBA

Of the total $492,000 loan amount, the SBA guaranteed $369,000.

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 40 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $492,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

Banks in Kankakee, Illinois

Illinois SBA 7A Banks