Chicago, Illinois Lender Lends Money to Business Services Company

Find Chicago, Illinois banks that specialize in SBA loans and know how to work with entrepreneurs. South Cent. Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Franklin Park, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from South Cent. Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
FRANKLIN PARK, IL 60106

SBA Loan Lender

SOUTH CENT. BANK
525 W ROOSEVELT RD
CHICAGO, IL 60607

This lender issued this particular bank 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.

SIC Code

7389 - Business Services

Loan Approval Date

3/9/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 2 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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 Loan

Small Business Banks in Chicago, Illinois

Where to Get an SBA Loan Illinois