Financing for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $132,000 limited-service restaurants loan was issued by an Illinois bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Home St. Bank/natl Association, out of Crystal Lake, Illinois. The loan was granted and they received $132,000 to help grow their Vernon Hills, Illinois business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
VERNON HILLS, IL 60004

SBA Loan Lender

HOME ST. BANK/NATL ASSOCIATION
40 GRANT ST
CRYSTAL LAKE, IL 60014

This lender issued this particular business 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

11/4/2004

Loan Approval Gross Amount

$132,000

Loan Approval from the SBA

Of the total $132,000 loan amount, the SBA guaranteed $112,200.

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 SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Vernon Hills IL, you ought to talk with a local Vernon Hills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Vernon Hills businesses.

This SBA loan was for $132,000. How would you spend $132,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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