Oak Park, Illinois Bank Gives SBA Loan to Motion Picture And Video Tape Production Company

Get to know Oak Park, Illinois banks that specialize in SBA loans and know how to work with entrepreneurs. Park National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Oak Park, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Park National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO TAPE PRODUCTION
OAK PARK, IL 60302

SBA Loan Lender

PARK NATIONAL BANK
11 W MADISON ST
OAK PARK, IL 60302

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7812 - Motion Picture and Video Tape Production

NAICS Code

512110 - Motion Picture and Video Production

Loan Approval Date

1/24/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Oak Park or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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