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May 16, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Round Lake Beach, Business Loans > Norstates Bank Round Lake Beach Business Loans > Food Stores Loan | ||||
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Banks for Small Businesses in Illinois
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Grayslake, Illinois Entrepreneur Gets a Business LoanBank loans in Illinois are tough to come by these days. We take a look at one Illinois bank loan, provided by an Illinois bank, that was approved by the SBA. You can learn something about getting a small business loan in Grayslake, Illinois by studying this loan to a local company, made back in 2002. Banks like Norstates Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FOOD STORES SBA Loan Lender NORSTATES BANK 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 5499 - Food Stores NAICS Code 446191 - Food Supplement Stores Loan Approval Date 6/10/2002 Loan Approval Gross Amount $110,900 Loan Approval from the SBA Of the total $110,900 loan amount, the SBA guaranteed $94,265. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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 want money to buy a franchise? 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: Role of Business Plan When Raising Money Small Business Banks in Round Lake Beach, Illinois Getting an SBA Loan in Illinois
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