Entrepreneur Works With Norridge, Illinois Bank to Get an SBA Loan
A Norridge, Illinois business loan can be yours. Learn how one firm got a $1,500,000 business loan from this Illinois bank.
This loan to an entrepreneur is a good example of an SBA loan. Plaza Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
NILES, IL 60714
SBA Loan Lender
PLAZA BANK
7460 W IRVING PARK RD
NORRIDGE, IL 60706
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
8/16/2005
Loan Approval Gross Amount
$1,500,000
Loan Approval from the SBA
Of the total $1,500,000 loan amount, the SBA guaranteed $1,125,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 32 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
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.
Related Links:
The Friends and Family Network
Small Bank Loans in Norridge, Illinois
SBA Lenders in Illinois