First National Bank - Illinois SBA Loan to Full-Service Restaurants Company

An SBA loan from First National Bank - Illinois typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Joliet, Illinois business owner got a $75,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First National Bank - Illinois, out of Lansing, Illinois. The loan was granted and they received $75,000 to help grow their Joliet, Illinois business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
JOLIET, IL 60435

SBA Loan Lender

FIRST NATIONAL BANK - ILLINOIS
3256 RIDGE RD
LANSING, IL 60438

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $56,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Advice on Getting a Small Business Loan

SBA 7A Lenders in Lansing, Illinois

SBA Illinois Banks