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November 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Durable Goods Merchant Wholesalers Loan | ||||
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Who Lends Money to Chicago Small Businesses
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Chicago, Illinois Entrepreneur Gets an SBA LoanSmall 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 2007 and, based on their loan application, they were successful in getting an SBA loan from The Foster Bank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender THE FOSTER BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 9/5/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Find an SBA Lender in Chicago, Illinois
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