Chicago, Illinois Entrepreneur Gets a Bank Loan

SBA loans in Illinois are are few and far betweeen these days. We take a look at one Illinois SBA loan, provided by an Illinois bank, that was approved by the SBA.

You can learn something about getting a small business loan in Chicago, Illinois by studying this loan to a local business, made back in 2007. Banks like Lasalle Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: ACTIVITIES RELATED TO REAL ESTATE
Chicago, IL 60610

SBA Loan Lender

LASALLE BANK
135 S LASALLE ST
CHICAGO, IL 60603

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531390 - Activities Related to Real Estate

Loan Approval Date

11/27/2007

Loan Approval Gross Amount

$689,900

Loan Approval from the SBA

Of the total $689,900 loan amount, the SBA guaranteed $517,425.

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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Small Bank Loans in Chicago, Illinois

SBA Lenders in Illinois