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December 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Baked Goods Stores Loan | ||||
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How to Get SBA Loans in Mundelein, Illinois
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How to Get a Loan for Baked Goods StoresWith these SBA loans for baked goods stores, the SBA guarantees the lender that the loan will be repaid. This baked goods stores loan for $40,000 was given to an Illinois entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mundelein, Illinois was able to borrow $40,000 from The Foster Bank. The SBA made the loan possible by guaranteeing $34,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: BAKED GOODS STORES SBA Loan Lender THE FOSTER BANK This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445291 - Baked Goods Stores Loan Approval Date 4/26/2002 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Foster Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Lenders in Chicago, Illinois
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