Chicago, Illinois Business Gets SBA-Guaranteed Funding from Banco Popular North America

Banco Popular North America has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

Getting a small business loan in Chicago, Illinois was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular North America, operating out of Chicago, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE
CHICAGO, IL 60639

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
4801 W FULLERTON AVE
CHICAGO, IL 60639

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

5021 - Furniture

Loan Approval Date

6/29/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? 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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