Chicago, Illinois Bank Lends Money to Professional Equipment And Supplies Merchant Wholesalers Company in Chicago, Illinois

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 South Cent. Bank worked out well for our friends at one local company in Chicago, Illinois. The business was able to get an SBA loan for $25,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
CHICAGO, IL 60607

SBA Loan Lender

SOUTH CENT. BANK
525 W ROOSEVELT RD
CHICAGO, IL 60607

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423490 - Professional Equipment and Supplies Merchant Wholesalers

Loan Approval Date

11/14/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Friends and Family Network

Good Banks for Small Business in Chicago, Illinois

SBA Participating Banks in Illinois