U.S. Bank National Association Gives Bank Loan to Women's Clothing Stores Company

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.

By giving the right information to U.S. Bank National Association, this Chicago, Illinois business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
CHICAGO, IL 60614

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
25 E WASHINGTON ST
CHICAGO, IL 60602

This SBA small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

10/24/2003

Loan Approval Gross Amount

$666,000

Loan Approval from the SBA

Of the total $666,000 loan amount, the SBA guaranteed $499,500.

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 8 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Chicago or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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