Chicago, Illinois Bank Gives SBA Loan to Beauty Salons Company

Thinking about meeting with a Chicago, Illinois bank about a small business loan? Here's one Illinois business loan, issued by a Chicago bank, that was approved by the SBA.

Applying for an SBA loan with Harris National Association worked out well for our friends at one local firm in Evanston, Illinois. The business was able to get an SBA loan for $39,400. Sweet!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
EVANSTON, IL 60201

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
111 W MONROE ST
CHICAGO, IL 60603

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

7/13/2006

Loan Approval Gross Amount

$39,400

Loan Approval from the SBA

Of the total $39,400 loan amount, the SBA guaranteed $33,490.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Financing Your Business

Where to Get an SBA Loan in Chicago, Illinois

Getting an SBA Loan in Illinois