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May 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > The Foster Bank Chicago Business Loans > Fish And Seafood Merchant Wholesalers Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Getting an SBA Loan for Fish and Seafood Merchant WholesalersLooking for business loans for fish and seafood merchant wholesalers? Talk to a banker who works with the SBA. This $100,000 fish and seafood merchant wholesalers loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chicago, Illinois was able to borrow $100,000 from The Foster Bank. The SBA made the loan possible by guaranteeing $85,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: FISH AND SEAFOOD MERCHANT WHOLESALERS SBA Loan Lender THE FOSTER BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424460 - Fish and Seafood Merchant Wholesalers Loan Approval Date 12/13/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Small Bank Loans in Chicago, Illinois SBA Participating Banks in Illinois
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