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May 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Alsip, Business Loans > Great Lakes Bank Alsip Business Loans > Eating Places Loan | ||||
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Illinois Bank SBA Loans
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Great Lakes Bank SBA Loan to Eating Places CompanyAn SBA loan from Great Lakes Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hazel Crest, Illinois business owner got a $70,000 loan. This small firm knew how to go about getting a business bank loan. Based in Hazel Crest, Illinois, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Great Lakes Bank, based in Alsip, Illinois. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender GREAT LAKES BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 6/22/2000 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $56,000. 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 2 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $70,000 loan. Remember, if it to be, it is up to me! 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: Good Banks for Small Business in Alsip, Illinois
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