Illinois Entrepreneur Secures Financing to Buy Jimmy John's Franchise

Need money to invest in a Jimmy John's franchise? 1st National Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Crystal Lake, Illinois needed money to invest in a Jimmy John's franchise back in 2006. 1st National Bank & Trust issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

DNR SUBS INC
CRYSTAL LAKE, IL 60012

SBA Loan Lender

1ST NATIONAL BANK & TRUST
345 E GRAND AVE
BELOIT, WI 53512

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/11/2006

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st National Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st National Bank & Trust 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.

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