Entrepreneur Works With Chicago, Illinois Bank to Get an SBA Loan

Find Chicago, Illinois banks that specialize in business loans and know how to work with entrepreneurs. Shorebank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Chicago, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Shorebank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FROZEN CAKES, PIES, AND PASTRIES MANUFACTURING
CHICAGO, IL 60605

SBA Loan Lender

SHOREBANK
7054 S JEFFREY AVE
CHICAGO, IL 60649

This lender issued this particular 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.

NAICS Code

311813 - Frozen Cakes, Pies, and Pastries Manufacturing

Loan Approval Date

9/30/2002

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 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 did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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