Illinois Entrepreneur Secures Financing to Buy Children's Orchard retail Clothing Franchise

Need a loan to buy a Children's Orchard retail Clothing franchise? Park National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Children's Orchard retail Clothing franchise requires some effort but others before you have been successful. In 2002, Park National Bank issued an SBA franchise loan to an entrepreneur in Orland Park, Illinois. Because Children's Orchard retail Clothing was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

CHILDREN'S ORCHARD
ORLAND PARK, IL 60462

SBA Loan Lender

PARK NATIONAL BANK
801 N CLARK ST
CHICAGO, IL 60610

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

12/11/2002

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Children's Orchard retail Clothing franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Children's Orchard, Inc.

Business Line of Credit

SBA 7A Banks for Chicago, Illinois Loans

Getting an SBA Loan in Illinois