Chicago, IL Entrepreneur Gets SBA Loan to Buy Jimmy John's Franchise

Need money to buy a Jimmy John's franchise? First Midwest Bank has a history of making these loans and they are guaranteed by the SBA.

Jimmy John's franchise loans are available to Chicago, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Midwest Bank, based in Tinley Park, Illinois, issued an SBA franchise loan for a Jimmy John's franchise in 2004. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

JIMMY JOHNS
CHICAGO, IL 60614

SBA Loan Lender

FIRST MIDWEST BANK
17500 S OAK PARK AVE
TINLEY PARK, IL 60477

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $215,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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