Chicago, Illinois Business Gets SBA-Guaranteed Funding from Park National Bank

An SBA loan from Park National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chicago, Illinois business owner got a $48,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Park National Bank, out of Chicago, Illinois. The loan was granted and they received $48,000 to help grow their Chicago, Illinois business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
CHICAGO, IL 60608

SBA Loan Lender

PARK NATIONAL BANK
801 N CLARK ST
CHICAGO, IL 60610

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

11/8/2006

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

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

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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