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April 29, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Clothing Stores Loan | ||||
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How Hard Is It to Get a Small Business Loan in Chicago, Illinois?
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Financing for Clothing StoresLooking for loans for clothing stores? The SBA may be the answer. This $10,000 clothing stores loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chicago, Illinois was able to borrow $10,000 from National City Bank. The SBA made the loan possible by guaranteeing $5,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender NATIONAL CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 448190 - Clothing Stores Loan Approval Date 3/17/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan 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 funding source This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? 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: A Company That Helps Entrepreneurs Best Bannockburn, Illinois Banks for Small Business
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