SBA Loan from Shorebank Helps Liquor Stores Company

An SBA loan from Shorebank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Saint Charles, Illinois business owner got a $125,000 loan.

Getting a small business loan in Saint Charles, Illinois was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Shorebank, operating out of Bellwood, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
SAINT CHARLES, IL 60176

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

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

1/30/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Saint Charles IL, you ought to talk with a local Saint Charles SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saint Charles businesses.

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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