Elmhurst, Illinois Entrepreneur Gets an SBA Loan

Want an Illinois SBA loan? This Illinois entrepreneur got an SBA loan, provided by an Illinois bank that works with the SBA to help small business owners.

Getting a small business loan in Elmhurst, Illinois was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Community Bank Of Elmhurst. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
ELMHURST, IL 60126

SBA Loan Lender

COMMUNITY BANK OF ELMHURST
330 W BUTTERFIELD RD
ELMHURST, IL 60126

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448210 - Shoe Stores

Loan Approval Date

3/10/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $120,000. How would you spend $120,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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