Illinois Entrepreneur Secures Financing to Buy Kaleidoscoops Franchise

Borrowing money to invest in a Kaleidoscoops franchise? Home St. Bank/natl Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Kaleidoscoops franchise requires some effort but others before you have been successful. In 2003, Home St. Bank/natl Association issued an SBA franchise loan to an entrepreneur in Crystal Lake, Illinois. Because Kaleidoscoops was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

KALEIDOSCOOP ICE CREAM
CRYSTAL LAKE, IL 60014

SBA Loan Lender

HOME ST. BANK/NATL ASSOCIATION
40 GRANT ST
CRYSTAL LAKE, IL 60014

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

3/12/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Kaleidoscoops franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Home St. Bank/natl Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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SBA Approved Banks in Crystal Lake, Illinois

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