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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Park National Bank Chicago Business Loans > Eating Places Loan | ||||
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Illinois Bank SBA Loans
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Park National Bank SBA Loan to Eating Places CompanyWant an Illinois SBA loan? Here's one Illinois business loan that was approved by the SBA. This growing firm needed an SBA business loan in Lansing, Illinois back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Park National Bank, operating out of Chicago, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PARK NATIONAL BANK This lender issued this particular business 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 5812 - Eating Places Loan Approval Date 6/23/2000 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $44,000. 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 8 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Park National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Park National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - Friends and Family Where to Get an SBA Loan in Chicago, Illinois
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