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April 30, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bellwood, Business Loans > Shorebank Bellwood Business Loans > Full-Service Restaurants Loan | ||||
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Raising Money in Hoffman Estates, Illinois With SBA Loans
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Getting an SBA Loan for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? The SBA may be the answer. This $150,000 full-service restaurants loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hoffman Estates, Illinois was able to borrow $150,000 from Shorebank. The SBA made the loan possible by guaranteeing $127,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SHOREBANK This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/6/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 6 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Accountant's Role in Securing Financing Best Banks in Bellwood, Illinois
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