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May 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Buffalo Grove, Business Loans > First Midwest Bank Buffalo Grove Business Loans > Eating Places Loan | ||||
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Arlington Heights SBA Loans
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Arlington Heights, Illinois Entrepreneur Gets a Business LoanIllinoisBusiness loans are available to Illinois business owners through the SBA. In this case, an Illinois bank provides the loan. You can learn something about getting a small business loan in Arlington Heights, Illinois by studying this loan to a local business, made back in 2003. Banks like First Midwest Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIRST MIDWEST BANK 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/28/2003 Loan Approval Gross Amount $132,000 Loan Approval from the SBA Of the total $132,000 loan amount, the SBA guaranteed $112,200. 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. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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 SBA Banks in Buffalo Grove, Illinois
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