Chicago, Illinois Entrepreneur Gets a Small Business Loan

Small business loans in Illinois are tough to come by these days. We take a look at one Illinois small business loan, provided by an Illinois bank, that was approved by the SBA.

Getting a small business loan in Chicago, Illinois was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Albany Bank & Trust. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
CHICAGO, IL 60622

SBA Loan Lender

ALBANY BANK & TRUST
3400 W LAWRENCE AVE
CHICAGO, IL 60625

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

10/11/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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