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November 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Crystal Lake, Business Loans > Home St. Bank/natl Association Crystal Lake Business Loans > Limited-Service Restaurants Loan | ||||
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Getting an SBA 7A Loan in Mchenry, Illinois
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Illinois Small Business Loan Issued to Limited-Service Restaurants CompanyIllinoisBank loans are available to Illinois firms through the SBA. In this case, an Illinois bank provides the loan. Getting a small business loan in Mchenry, Illinois was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Home St. Bank/natl Association. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender HOME ST. BANK/NATL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/1/2004 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Obtaining Funding - Getting Venture Capital Find an SBA Lender in Crystal Lake, Illinois
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