National Rep. Bank - Chicago SBA Loan to Grocery Stores Company

Looking to get an Ohio SBA loan? Here's one Ohio business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mount Repose, Ohio was able to borrow $90,000 from National Rep. Bank - Chicago. The SBA made the loan possible by guaranteeing $72,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
MOUNT REPOSE, OH 45150

SBA Loan Lender

NATIONAL REP. BANK - CHICAGO
1201 W HARRISON ST
CHICAGO, IL 60607

This lender issued this particular 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.

SIC Code

5411 - Grocery Stores

Loan Approval Date

1/5/2000

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $72,000.

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 5 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Rep. Bank - Chicago had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Rep. Bank - Chicago made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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