Mount Prospect, Illinois Entrepreneur Gets an SBA Loan

Business loans in Illinois are are few and far betweeen these days. We take a look at one Illinois business loan, provided by an Illinois bank, that was approved by the SBA.

Getting a small business loan in Mount Prospect, Illinois was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Park National Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PRINTING
MOUNT PROSPECT, IL 60056

SBA Loan Lender

PARK NATIONAL BANK
801 N CLARK ST
CHICAGO, IL 60610

This lender issued this particular loan for a small business 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

2759 - Commercial Printing

NAICS Code

323114 - Quick Printing

Loan Approval Date

7/12/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Mount Prospect IL, you ought to talk with a local Mount Prospect SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mount Prospect businesses.

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.

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