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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bellwood, Business Loans > Shorebank Bellwood Business Loans > Limited-Service Restaurants Loan | ||||
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Shorewood, Illinois Bank for SBA Loans
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Limited-Service Restaurants Business LoansLooking for business loans for limited-service restaurants? The SBA may be the answer. This $125,000 limited-service restaurants loan was issued by an Illinois bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Shorebank, out of Bellwood, Illinois. The loan was granted and they received $125,000 to help grow their Shorewood, Illinois business. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender SHOREBANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 9/30/2002 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Shorebank and they will explain how you can get an SBA loan for your company. 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: Realistic Debt Financing Options Best Banks for Small Business in Bellwood, Illinois
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