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May 5, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Shorebank Chicago Business Loans > Business Consulting Services Loan | ||||
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Shorebank Small Business
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Shorebank SBA Loan to Business Consulting Services CompanyAn SBA loan from Shorebank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Skokie, Illinois business owner got a $70,000 loan. This growing company knew how to go about getting a business bank loan. Based in Skokie, Illinois, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Shorebank, based in Chicago, Illinois. SBA Loan Borrower COMPANY TYPE: BUSINESS CONSULTING SERVICES SBA Loan Lender SHOREBANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8748 - Business Consulting Services Loan Approval Date 4/14/2000 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Obtaining Funding - Friends and Family Best Banks in Chicago, Illinois
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