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May 4, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago Heights, Business Loans > First Midwest Bank Chicago Heights Business Loans > Grocery Stores Loan | ||||
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Chicago Heights SBA Loan from First Midwest Bank
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Business Loan from First Midwest Bank Given to Grocery Stores CompanyFirst Midwest Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Chicago Heights, Illinois, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was First Midwest Bank, based in Chicago Heights, Illinois. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender FIRST MIDWEST BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 8/4/2000 Loan Approval Gross Amount $220,400 Loan Approval from the SBA Of the total $220,400 loan amount, the SBA guaranteed $165,300. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Midwest Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Microlending as a Small Business Funding Source Best Banks in Chicago Heights, Illinois
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