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November 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Limited-Service Restaurants Loan | ||||
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Small Business Banks in Illinois
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Business Loans for Limited-Service RestaurantsWith these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $246,400 was given to an Illinois entrepreneur in 2006. This small business knew how to go about getting a business bank loan. Based in Darien, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was National City Bank, based in Bannockburn, Illinois. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender NATIONAL CITY BANK The lender provided this bank loan 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 7/17/2006 Loan Approval Gross Amount $246,400 Loan Approval from the SBA Of the total $246,400 loan amount, the SBA guaranteed $123,200. 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 20 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 25 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company. 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: Small Business Banks in Bannockburn, Illinois
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