Amcore Bank SBA Loan to Plastics Material And Resin Manufacturing Company
Amcore Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Cary, Illinois was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Amcore Bank, operating out of Rockford, Illinois. Here are the details on this Illinois small business loan.
SBA Loan Borrower
COMPANY TYPE: PLASTICS MATERIAL AND RESIN MANUFACTURING
CARY, IL 60013
SBA Loan Lender
AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
325211 - Plastics Material and Resin Manufacturing
Loan Approval Date
10/6/2000
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
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 source of funding.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Amcore Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:
The Friends and Family Network
Good Banks for Small Business in Rockford, Illinois
Find an SBA Lender in Illinois