Raising Money for Cellular and Wireless

With these bank loans for cellular and wireless, the SBA guarantees the lender that the loan will be repaid. This cellular and wireless loan for $75,000 was given to an Illinois entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bridgeview Bank Group, out of Chicago, Illinois. The loan was granted and they received $75,000 to help grow their Des Plaines, Illinois business.

SBA Loan Borrower

COMPANY TYPE: CELLULAR AND WIRELESS
DES PLAINES, IL 60018

SBA Loan Lender

BRIDGEVIEW BANK GROUP
4753 N BROADWAY
CHICAGO, IL 60640

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

513322 - Cellular and Wireless

Loan Approval Date

1/9/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, you control your own destiny.

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:

Getting a Small Business Loan

Where to Get an SBA Loan in Chicago, Illinois

SBA Illinois Lenders