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April 27, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Chicago, Business Loans > Shorebank Chicago Business Loans > Supermarkets And Grocery Stores Loan | ||||
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SBA Lender Chicago
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Chicago, Illinois Lender Lends Money to Supermarkets And Grocery Stores CompanyGet SBA loans from a Chicago, Illinois bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Shorebank is a Chicago, Illinois small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender SHOREBANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 8/2/2002 Loan Approval Gross Amount $589,000 Loan Approval from the SBA Of the total $589,000 loan amount, the SBA guaranteed $441,750. 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 30 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Shorebank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Family and Friend Investors - Your First Financiers SBA Participating Banks in Chicago, Illinois
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