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April 28, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > National Rep. Bank - Chicago Chicago Business Loans > Professional Sports Clubs And Promoters Loan | ||||
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IL SBA Loans from National Rep. Bank - Chicago
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Chicago, Illinois Business Gets SBA-Guaranteed Funding from National Rep. Bank - ChicagoAn SBA loan from National Rep. Bank - Chicago typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chicago, Illinois business owner got a $50,000 loan. Getting a small business loan in Chicago, Illinois was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from National Rep. Bank - Chicago, operating out of Chicago, Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL SPORTS CLUBS AND PROMOTERS SBA Loan Lender NATIONAL REP. BANK - CHICAGO 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 7941 - Professional Sports Clubs and Promoters NAICS Code 711310 - Promoters of Performing Arts, Sports, and Similar Events with Facilities Loan Approval Date 12/6/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: SBA 7A Lenders in Chicago, Illinois
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