Illinois Entrepreneur Secures Financing to Buy Great Steak And Potato Company the Franchise

Need a loan to invest in a Great Steak And Potato Company the franchise? Lasalle Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Great Steak And Potato Company the franchise may simply require a phone call to a local SBA banker. In 2002, Lasalle Bank issued an SBA franchise loan to an entrepreneur in Orland Park, Illinois. Because Great Steak And Potato Company the was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

GREAT STEAK & POTATO CO AND SA
ORLAND PARK, IL 60462

SBA Loan Lender

LASALLE BANK
135 S LASALLE ST
CHICAGO, IL 60603

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/17/2002

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 an existing business. This loan was used to buy a Great Steak And Potato Company the franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 13 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Lasalle Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

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SBA Approved Banks in Chicago, Illinois

SBA Lenders in Illinois