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May 14, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Melrose Park, Business Loans > Midwest Bank And Trust Company Melrose Park Business Loans > Eating Places Loan | ||||
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Illinois Bank SBA Loans
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Midwest Bank And Trust Company SBA Loan to Eating Places CompanyWant an Illinois business loan? Here's one Illinois business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elmwood Park, Illinois was able to borrow $114,000 from Midwest Bank And Trust Company. The SBA made the loan possible by guaranteeing $85,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender MIDWEST BANK AND TRUST COMPANY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 2/8/2000 Loan Approval Gross Amount $114,000 Loan Approval from the SBA Of the total $114,000 loan amount, the SBA guaranteed $85,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 6 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. We can help you find the best banks for small businesses in Elmwood Park or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Melrose Park, Illinois Getting an SBA Loan in Illinois
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