Mount Prospect, IL Entrepreneur Gets SBA Loan to Buy Jimmy John's Franchise

Borrowing money to buy a Jimmy John's franchise? Harris Bank Elk Grove has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Jimmy John's franchise? If so, here's a 2005 SBA franchise loan that you should know about. Harris Bank Elk Grove was the lender and the entrepreneur was based in Mount Prospect, Illinois.

SBA Loan Borrower

JIMMY JOHN'S
MOUNT PROSPECT, IL 60056

SBA Loan Lender

HARRIS BANK ELK GROVE
311 MONROE
CHICAGO, IL 60606

When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/14/2005

Loan Approval Gross Amount

$204,000

Loan Approval from the SBA

Of the total $204,000 loan amount, the SBA guaranteed $153,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

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

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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:

Jimmy John's Gourmet Sandwiches

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Getting an SBA Loan in Illinois