Comerica Bank Gives Bank Loan to Eating Places Company

Looking to get an Illinois business loan? This Illinois entrepreneur got a business loan, provided by a Florida bank that works with the SBA to help small business owners.

Getting a small business loan in Winter Park, Illinois was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WINTER PARK, IL 32789

SBA Loan Lender

COMERICA BANK
1800 CORPORATE BLVD NW, STE 1
BOCA RATON, FL 33431

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

1/6/2000

Loan Approval Gross Amount

$117,800

Loan Approval from the SBA

Of the total $117,800 loan amount, the SBA guaranteed $88,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $117,800. How would you spend $117,800 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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