Firm Gets an Illinois Bank Loan

Small business loans in Illinois are hard to find these days. We take a look at one Illinois small business loan, provided by an Illinois bank, that was approved by the SBA.

Getting a small business loan in Chicago, Illinois was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The Foster Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
CHICAGO, IL 60617

SBA Loan Lender

THE FOSTER BANK
5225 N KEDZIE AVE
CHICAGO, IL 60625

This loan for a small business was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

11/21/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Incubators

SBA Banks in Chicago, Illinois

SBA Participating Banks in Illinois