Clarendon Hills, Illinois Bank Lends Money to Beauty Salons Company in East Dundee, Illinois

Want to talk with a Clarendon Hills, Illinois bank about a small business loan? Here's one Illinois business loan, issued by a Clarendon Hills bank, that was approved by the SBA.

Applying for an SBA loan with National City Bank worked out well for our friends at one local company in East Dundee, Illinois. They got an SBA loan for $61,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
EAST DUNDEE, IL 60123

SBA Loan Lender

NATIONAL CITY BANK
55TH & HOLMES
CLARENDON HILLS, IL 60514

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/2/2005

Loan Approval Gross Amount

$61,000

Loan Approval from the SBA

Of the total $61,000 loan amount, the SBA guaranteed $51,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from National City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Incubators

SBA Approved Banks in Clarendon Hills, Illinois

SBA Lenders in Illinois