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April 24, 2024  
 
 
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SBA 7A Banks for Elk Grove Village, Illinois Entrepreneurs

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Goodyear Tire Franchise

Need a loan to invest in a Goodyear Tire franchise? American Chartered Bank has a history of making these loans and they are guaranteed by the SBA.

Goodyear Tire franchise loans are available to Elk Grove Village, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Chartered Bank, based in Schaumburg, Illinois, issued an SBA franchise loan for a Goodyear Tire franchise in 2000. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

GOODYEAR TIRE
ELK GROVE VILLAGE, IL 60007

SBA Loan Lender

AMERICAN CHARTERED BANK
1199 E HIGGINS RD
SCHAUMBURG, IL 60173

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/23/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Goodyear Tire franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from American Chartered Bank 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.

Related Links:

Role of Business Plan When Raising Money

SBA 7A Lenders in Schaumburg, Illinois

Illinois SBA 7A Lenders