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April 30, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Chicago Community Bank Chicago Business Loans > Burger King Loan | ||||
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Small Business Banks for Chicago, Illinois Entrepreneurs
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Chicago, IL Entrepreneur Gets SBA Loan to Buy Burger King FranchiseNeed money to invest in a Burger King franchise? Chicago Community Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Chicago, Illinois needed money to invest in a Burger King franchise back in 2005. Chicago Community Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower BURGER KING SBA Loan Lender CHICAGO COMMUNITY BANK This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/15/2005 Loan Approval Gross Amount $1,150,000 Loan Approval from the SBA Of the total $1,150,000 loan amount, the SBA guaranteed $862,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Burger King franchise. At the time of the loan, the company had 40 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Who Lends Money to Small Businesses in Chicago, Illinois
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