Business Loan from Amcore Bank Given to Gasoline Stations With Convenience Stores Company

An SBA loan from Amcore Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Des Plaines, Illinois business owner got a $993,600 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Amcore Bank, out of Rockford, Illinois. The loan was granted and they received $993,600 to help grow their Des Plaines, Illinois business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
DES PLAINES, IL 60018

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/15/2002

Loan Approval Gross Amount

$993,600

Loan Approval from the SBA

Of the total $993,600 loan amount, the SBA guaranteed $745,200.

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. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Des Plaines 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:

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SBA 7A Lenders in Rockford, Illinois

Getting an SBA Loan in Illinois