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April 26, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Aurora, Business Loans > Old Second National Bank Aurora Business Loans > Great Wraps Loan | ||||
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Old Second National Bank Small Business Franchise Loan
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Borrow Money to Buy a Great Wraps FranchiseBorrowing money to buy a Great Wraps franchise? Old Second National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Great Wraps franchise shouldn't be too tough. In 2003, Old Second National Bank issued an SBA franchise loan to an entrepreneur in Naperville, Illinois. Because Great Wraps was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower GREAT WRAPS SBA Loan Lender OLD SECOND NATIONAL BANK This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/17/2003 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $161,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Great Wraps franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - Getting Venture Capital Find an SBA Lender in Aurora, Illinois
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