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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > New Car Dealers Loan | ||||
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The Foster Bank
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SBA Loan from The Foster Bank Helps New Car Dealers CompanyThe Foster Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Roselle, Illinois was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from The Foster Bank, operating out of Chicago, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: NEW CAR DEALERS SBA Loan Lender THE FOSTER BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 441110 - New Car Dealers Loan Approval Date 8/30/2004 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $162,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Dealing With Venture Capitalists SBA Banks in Chicago, Illinois
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