Illinois Entrepreneur Secures Financing to Buy Elliott's Off-Broadway Deli Franchise

Borrowing money to invest in an Elliott's Off-Broadway Deli franchise? Shorebank has a history of making these loans and they are guaranteed by the SBA.

Elliott's Off-Broadway Deli franchise loans are available to Rolling Meadows, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Shorebank, based in Bellwood, Illinois, issued an SBA franchise loan for an Elliott's Off-Broadway Deli franchise in 2001. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

ELLIOTT'S OFF BROADWAY
ROLLING MEADOWS, IL 60008

SBA Loan Lender

SHOREBANK
219 S MANNHEIM RD
BELLWOOD, IL 60104

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/2/2001

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $36,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Elliott's Off-Broadway Deli franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Shorebank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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