Chicago, Illinois Bank Gives SBA Loan to On-Line Information Services Company

Want to talk with a Chicago, Illinois bank about a small business loan? Here's one Illinois business loan, issued by a Chicago bank, that was approved by the SBA.

Applying for an SBA loan with Mb Finan Bank worked out well for our friends at one local business in Chicago, Illinois. The business was able to get an SBA loan for $400,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: ON-LINE INFORMATION SERVICES
CHICAGO, IL 60614

SBA Loan Lender

MB FINAN BANK
1200 N ASHLAND AVE
CHICAGO, IL 60622

This 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

514191 - On-Line Information Services

Loan Approval Date

8/10/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The loan application did not indicate that the company promised to use the funding 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.

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.

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