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May 1, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Bridgeview, Business Loans > Bridgeview Bank Group Bridgeview Business Loans > Car Washes Loan | ||||
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SBA 7A Banks for Chicago, Illinois Small Business Owners
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Chicago, Illinois Entrepreneur Gets a Bank LoanIllinoisSBA loans are available to Illinois entrepreneurs through the SBA. In this case, an Illinois bank provides the loan. This small business, based in Chicago, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bridgeview Bank Group. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender BRIDGEVIEW BANK GROUP This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811192 - Car Washes Loan Approval Date 8/12/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 25 employees. The loan application indicated that the loan would help retain 25 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Where to Get an SBA Loan in Bridgeview, Illinois Getting an SBA Loan in Illinois
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