Firm Gets an Illinois SBA Loan

Want an Illinois small business loan? This Illinois entrepreneur got a small business loan, provided by an Illinois bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Chicago, Illinois by studying this loan to a local company, made back in 2001. Banks like Albany Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO PRODUCTION
CHICAGO, IL 60625

SBA Loan Lender

ALBANY BANK & TRUST
3400 W LAWRENCE AVE
CHICAGO, IL 60625

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

512110 - Motion Picture and Video Production

Loan Approval Date

1/23/2001

Loan Approval Gross Amount

$157,000

Loan Approval from the SBA

Of the total $157,000 loan amount, the SBA guaranteed $117,750.

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. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Albany Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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