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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Palos Heights, Business Loans > Palos Bank And Trust Company Palos Heights Business Loans > General Merchandise Stores Loan | ||||
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Palos Bank And Trust Company Business Loans
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Business Loans for Warehouse Clubs and SuperstoresWith these business loans for warehouse clubs and superstores, the SBA guarantees the lender that the loan will be repaid. This warehouse clubs and superstores loan for $100,000 was given to an Illinois entrepreneur in 2001. This small business knew how to go about getting a business bank loan. Based in Crestwood, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Palos Bank And Trust Company, based in Palos Heights, Illinois. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender PALOS BANK AND TRUST COMPANY This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5399 - General Merchandise Stores NAICS Code 452910 - Warehouse Clubs and Superstores Loan Approval Date 10/2/2001 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. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - How to Decide How Much to Raise SBA Approved Banks in Palos Heights, Illinois
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