Illinois Entrepreneur Secures Financing to Buy Hobbytown Usa Franchise

Borrowing money to buy a Hobbytown Usa franchise? First Choice Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Orland Park, Illinois and are interested in buying a Hobbytown Usa franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by First Choice Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HOBBYTOWN USA
ORLAND PARK, IL 60462

SBA Loan Lender

FIRST CHOICE BANK
1900 W STATE ST
GENEVA, IL 60134

This SBA small business loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

6/21/2005

Loan Approval Gross Amount

$262,500

Loan Approval from the SBA

Of the total $262,500 loan amount, the SBA guaranteed $196,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hobbytown Usa franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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:

HobbyTown USA

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in Geneva, Illinois

Find an SBA Lender in Illinois