 |
 |
December 20, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Shorebank Chicago Business Loans > Supermarkets And Grocery Stores Loan | ||||
 |
||||
Banks Doing SBA Loans in Illinois
|
||||
 |
Entrepreneur Works With Chicago, Illinois Bank to Get an SBA LoanWant 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 Shorebank worked out well for our friends at one local firm in Chicago, Illinois. They received an SBA loan for $325,000. Sweet! SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender SHOREBANK This debt financing 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 10/3/2002 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. 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 2 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Shorebank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Shorebank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Chicago, Illinois
|
|
||
|
||||
|
|
||||