Community Bank Of Lawndale SBA Loan to Insurance Agents And Brokers Company

Want an Illinois small business loan? Here's one Illinois business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Chicago, Illinois, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Community Bank Of Lawndale, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
CHICAGO, IL 60612

SBA Loan Lender

COMMUNITY BANK OF LAWNDALE
1111 S HOMAN AVE
CHICAGO, IL 60624

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

Loan Approval Date

9/13/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

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 only one employee. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community Bank Of Lawndale are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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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