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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Norridge, Business Loans > Plaza Bank Norridge Business Loans > Full-Service Restaurants Loan | ||||
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Plaza Bank Chicago
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Chicago, Illinois Business Gets SBA-Guaranteed Funding from Plaza BankAn SBA loan from Plaza Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chicago, Illinois business owner got a $975,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Plaza Bank, out of Norridge, Illinois. The loan was granted and they received $975,000 to help grow their Chicago, Illinois business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PLAZA BANK This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/21/2006 Loan Approval Gross Amount $975,000 Loan Approval from the SBA Of the total $975,000 loan amount, the SBA guaranteed $731,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 15 employees. The SBA loan documents 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! SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: SBA 7A Banks for Norridge, Illinois Loans
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