Entrepreneur Works With Chicago, Illinois Bank to Get an SBA Loan

Get business loans from a Chicago, Illinois bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Community Bank Of Lawndale is a Chicago, Illinois small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Illinois company.

SBA Loan Borrower

COMPANY TYPE: RADIO, TV, AND CONSUMER ELECTRONICS RETAILING
JOLIET, IL 60435

SBA Loan Lender

COMMUNITY BANK OF LAWNDALE
1111 S HOMAN AVE
CHICAGO, IL 60624

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5731 - Radio, TV, and Consumer Electronics Retailing

Loan Approval Date

5/26/2000

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $29,600.

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 SBA funding recipient planned to use the money to add employees or retain any existing employees.

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

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $37,000 loan. Remember, anyone can do it... so why not 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:

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Chicago, Illinois

Getting an SBA Loan in Illinois