 |
 |
May 2, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > North Community Bank Chicago Business Loans > Women's Clothing Stores Loan | ||||
 |
||||
Get a Small Business Loan in Chicago, Illinois
|
||||
 |
Chicago, Illinois Entrepreneur Gets a Business LoanWould an Illinois small business loan help your small business to grow and prosper? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs. This company, 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 North Community Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender NORTH COMMUNITY BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5621 - Women's Clothing Stores NAICS Code 448120 - Women's Clothing Stores Loan Approval Date 6/6/2002 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Good Banks for Small Business in Chicago, Illinois
|
|
||
|
||||
|
|
||||