Company Gets an Illinois SBA Loan

Would an Illinois SBA loan help your business get to the next level? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs.

You can learn something about getting a small business loan in Chicago, Illinois by studying this loan to a local business, made back in 2000. Banks like Park National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CHICAGO, IL 60639

SBA Loan Lender

PARK NATIONAL BANK
801 N CLARK ST
CHICAGO, IL 60610

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

1/12/2000

Loan Approval Gross Amount

$64,600

Loan Approval from the SBA

Of the total $64,600 loan amount, the SBA guaranteed $51,680.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Small Business Loan

Small Bank Loans in Chicago, Illinois

Getting an SBA Loan in Illinois