Business Loan from Hoyne Savings Bank Given to Repair Shops And Related Services Company

An SBA loan from Hoyne Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Crystal Lake, Illinois business owner got a $27,000 loan.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Hoyne Savings Bank, out of Chicago, Illinois. The loan was granted and they received $27,000 to help grow their Crystal Lake, Illinois business.

SBA Loan Borrower

COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
CRYSTAL LAKE, IL 60014

SBA Loan Lender

HOYNE SAVINGS BANK
4786 N MILWAUKEE AVE
CHICAGO, IL 60630

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

811211 - Consumer Electronics Repair and Maintenance

Loan Approval Date

4/17/2001

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $22,950.

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 10 employees. The SBA loan documents did not indicate that the business planned 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 make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $27,000. How would you spend $27,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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