Lasalle Bank SBA Loan to Women's, Children's, And Infants' Clothing And Accessories Wholesalers Company

Lasalle Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Chicago, Illinois, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Lasalle Bank, based in Chicago, Illinois.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S, CHILDREN'S, AND INFANTS' CLOTHING AND ACCESSORIES WHOLESALERS
CHICAGO, IL 60654

SBA Loan Lender

LASALLE BANK
135 S LASALLE ST
CHICAGO, IL 60603

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422330 - Women's, Children's, and Infants' Clothing and Accessories Wholesalers

Loan Approval Date

11/8/2001

Loan Approval Gross Amount

$139,400

Loan Approval from the SBA

Of the total $139,400 loan amount, the SBA guaranteed $104,550.

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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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