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November 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elgin, Business Loans > Union National Bank Elgin Business Loans > Cheeku Inc Loan | ||||
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SBA 7A Banks for Palatine Entrepreneurs
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Union National Bank Provides SBA Loan to Buy Dunkin Donuts FranchiseNeed a loan to buy a Dunkin Donuts franchise? Union National Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Palatine, Illinois and are interested in buying a Dunkin Donuts franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Union National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower CHEEKU INC SBA Loan Lender UNION NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/5/2002 Loan Approval Gross Amount $610,000 Loan Approval from the SBA Of the total $610,000 loan amount, the SBA guaranteed $457,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Dunkin Donuts franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $610,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best Banks for Small Business in Elgin, Illinois
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