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May 5, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Shorebank Chicago Business Loans > Child Day Care Services Loan | ||||
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Illinois Small Business SBA Loans
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Chicago, Illinois Entrepreneur Gets a Bank LoanIllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, an Illinois bank provides the loan. Getting a small business loan in Chicago, Illinois was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Shorebank. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender SHOREBANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 624410 - Child Day Care Services Loan Approval Date 7/12/2006 Loan Approval Gross Amount $165,000 Loan Approval from the SBA Of the total $165,000 loan amount, the SBA guaranteed $82,500. 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 12 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 15 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Find an SBA Lender in Chicago, Illinois
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