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November 21, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Car Washes Loan | ||||
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Getting a Business Loan in Chicago, Illinois
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Local Business Gets an Illinois SBA LoanIllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, a New York bank provides the loan. By giving the right information to Banco Popular North America, this Chicago, Illinois business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender BANCO POPULAR NORTH AMERICA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 12/2/2002 Loan Approval Gross Amount $735,000 Loan Approval from the SBA Of the total $735,000 loan amount, the SBA guaranteed $551,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! If you are working on finding money to start a business in Chicago IL, you ought to talk with a local Chicago SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chicago businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $735,000 loan. Remember, where there is a will, there is a way! 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: Raising VC Money for Social Networking Companies Best New York City, New York Banks for Small Business
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