Naperville, Illinois Business Gets SBA-Guaranteed Funding from Shorebank

Shorebank has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Naperville, Illinois, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Shorebank, based in Bellwood, Illinois.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NAPERVILLE, IL 60563

SBA Loan Lender

SHOREBANK
219 S MANNHEIM RD
BELLWOOD, IL 60104

This lender issued this particular business 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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/1/2004

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you are raising money in Naperville IL, you ought to talk with a local Naperville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Naperville businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? 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.

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