Illinois Entrepreneur Secures Financing to Buy Jimmy John's Franchise

Need money to purchase a Jimmy John's franchise? Centrue Bank has a history of making these loans and they are guaranteed by the SBA.

Jimmy John's franchise loans are available to Morris, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Centrue Bank, based in Streator, Illinois, issued an SBA franchise loan for a Jimmy John's franchise in 2002. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

COLE ENTERPRISES INC
MORRIS, IL 60450

SBA Loan Lender

CENTRUE BANK
201 E MAIN
STREATOR, IL 61364

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/5/2002

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $142,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 30 existing jobs.

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

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.

This SBA loan was for $190,000. How would you spend $190,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

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Accountant's Role in Securing Financing

Where to Get an SBA Loan in Streator, Illinois

Where to Get an SBA Loan Illinois