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January 2, 2025 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Lakeside Bank Chicago Business Loans > Jewelry Stores Loan | ||||
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Illinois Bank SBA Loans
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Chicago, Illinois Business Gets SBA-Guaranteed Funding from Lakeside BankLakeside Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Lakeside Bank, out of Chicago, Illinois. The loan was granted and they received $70,000 to help grow their Chicago, Illinois business. SBA Loan Borrower COMPANY TYPE: JEWELRY STORES SBA Loan Lender LAKESIDE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5944 - Jewelry Stores NAICS Code 448310 - Jewelry Stores Loan Approval Date 1/25/2000 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. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Advice on Getting a Small Business Loan Best Chicago, Illinois Banks for Small Business
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