Entrepreneur Works With Rosemont, Illinois Bank to Get an SBA Loan

Want to talk with a Rosemont, Illinois bank about a business loan? Here's one California business loan, issued by a Rosemont bank, that was approved by the SBA.

Applying for an SBA loan with Banco Popular North America worked out well for our friends at one local business in San Juan Capistrano, California. The business was able to get an SBA loan for $353,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: OPTOMETRISTS
SAN JUAN CAPISTRANO, CA 92675

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
9600 W BRYN MAWR
ROSEMONT, IL 60018

This small business loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621320 - Optometrists

Loan Approval Date

8/24/2006

Loan Approval Gross Amount

$353,500

Loan Approval from the SBA

Of the total $353,500 loan amount, the SBA guaranteed $265,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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