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November 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Limited-Service Restaurants Loan | ||||
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Tips for Business Owners On Getting a Loan
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SBA Loans for Limited-Service RestaurantsLooking for SBA loans for limited-service restaurants? Talk to a banker who works with the SBA. This $333,000 limited-service restaurants loan was issued by an Illinois bank. This business knew how to go about getting a business bank loan. Based in Des Plaines, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was The Foster Bank, based in Chicago, Illinois. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender THE FOSTER BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/19/2005 Loan Approval Gross Amount $333,000 Loan Approval from the SBA Of the total $333,000 loan amount, the SBA guaranteed $249,750. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks for Chicago, Illinois Loans
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