Frankfort, IL Entrepreneur Gets SBA Loan to Buy Winestyles Franchise

Borrowing money to invest in a Winestyles franchise? Heritage Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Frankfort, Illinois needed money to invest in a Winestyles franchise back in 2004. Heritage Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

WINESTYLES (D'AMICO WINE HOLDI
FRANKFORT, IL 60423

SBA Loan Lender

HERITAGE BANK
20201 S LAGRANGE RD
FRANKFORT, IL 60423

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424820 - Wine and Distilled Alcoholic Beverage Merchant Wholesalers

Loan Approval Date

8/6/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Winestyles franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

WineStyles Inc.

How Equity Dilution Works

Where to Get an SBA Loan in Frankfort, Illinois

SBA Illinois Lenders