Wheaton, Illinois Business Gets SBA-Guaranteed Funding from Community Bank-Wheaton/glen El

Community Bank-Wheaton/glen El is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wheaton, Illinois was able to borrow $301,380 from Community Bank-Wheaton/glen El. The SBA made the loan possible by guaranteeing $226,035 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
WHEATON, IL 60187

SBA Loan Lender

COMMUNITY BANK-WHEATON/GLEN EL
357 ROOSEVELT RD
GLEN ELLYN, IL 60137

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

11/9/2000

Loan Approval Gross Amount

$301,380

Loan Approval from the SBA

Of the total $301,380 loan amount, the SBA guaranteed $226,035.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Financing Your Business

SBA Banks in Glen Ellyn, Illinois

SBA Participating Banks in Illinois