Getting an SBA Loan for Book Stores

Looking for SBA loans for book stores? Try the SBA. This $150,000 book stores loan was issued by an Illinois bank.

This business knew how to go about getting a business bank loan. Based in Chicago, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was South Cent. Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
CHICAGO, IL 60614

SBA Loan Lender

SOUTH CENT. BANK
525 W ROOSEVELT RD
CHICAGO, IL 60607

This lender provides SBA commercial 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

451211 - Book Stores

Loan Approval Date

6/28/2004

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 not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. South Cent. Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, South Cent. Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Line of Credit

Small Business Banks in Chicago, Illinois

Getting an SBA Loan in Illinois