Illinois Entrepreneur Secures Financing to Buy Cousins Submarines restaurant Franchise

Need a loan to invest in a Cousins Submarines restaurant franchise? Libertyville Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cousins Submarines restaurant franchise? If so, here's a 2002 SBA franchise loan that you should know about. Libertyville Bank & Trust was the lender and the entrepreneur was based in Mundelein, Illinois.

SBA Loan Borrower

COUSINS SUBS
MUNDELEIN, IL 60060

SBA Loan Lender

LIBERTYVILLE BANK & TRUST
507 N MILWAUKEE AVE
LIBERTYVILLE, IL 60048

This lender issued this particular SBA loan 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/12/2002

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 a new business. This loan was used to buy a Cousins Submarines restaurant franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add 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.

This SBA loan was for $150,000. How would you spend $150,000 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:

Cousins Subs

Equity Financing

Small Business Banks in Libertyville, Illinois

Where to Get an SBA Loan Illinois