Shorebank Development Corporation, Chicago
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Shorebank Development Corporation, Chicago · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 624410 | Child Care Services | 2 | $156K | $78K | 66.7% |
| 621210 | Offices of Dentists | 1 | $150K | $150K | 33.3% |
Geographic Distribution
SBA lending activity for Shorebank Development Corporation, Chicago by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 3 | $306K | 100.0% |
Why Choose Shorebank Development Corporation, Chicago?
Based on SBA 7(a) lending track record from 2002-2002
- ✓Proven Track Record: 3 SBA loans approved, totaling $306K in financing
- ✓Industry Expertise: Specialized focus on Child Care Services, Offices of Dentists
- ✓Competitive Terms: Average interest rate of — with flexible term lengths averaging 131 months
- ✓Loan Range: Loan sizes from $71K to $150K, with an average of $102K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Shorebank Development Corporation, Chicago SBA lending
What types of businesses does Shorebank Development Corporation, Chicago typically finance?
Shorebank Development Corporation, Chicago specializes in SBA 7(a) lending to specific industries including child care services, offices of dentists. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Shorebank Development Corporation, Chicago's typical SBA loan terms?
Shorebank Development Corporation, Chicago's SBA 7(a) loans typically feature an average interest rate of — and average term length of 131 months (approximately 11 years). Loan sizes range from $71K to $150K, with an average loan size of $102K.
Do I need a business valuation for a Shorebank Development Corporation, Chicago SBA loan?
Yes, Shorebank Development Corporation, Chicago typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Shorebank Development Corporation, Chicago compare to other SBA lenders?
Shorebank Development Corporation, Chicago has originated 3 SBA loans totaling $306K since 2002. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Shorebank Development Corporation, Chicago lend in?
Shorebank Development Corporation, Chicago provides SBA 7(a) financing with particularly strong presence in IL. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
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