Rockford, Illinois Lender Lends Money to Plastics And Rubber Industry Machinery Manufacturing Company

Want to talk with a Rockford, Illinois bank about a small business loan? Here's one Illinois business loan, issued by a Rockford bank, that was approved by the SBA.

Applying for an SBA loan with Amcore Bank worked out well for our friends at one local business in Machesney Park, Illinois. They got an SBA loan for $250,000. Great job!

SBA Loan Borrower

COMPANY TYPE: PLASTICS AND RUBBER INDUSTRY MACHINERY MANUFACTURING
Machesney Park, IL 61115

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

333220 - Plastics and Rubber Industry Machinery Manufacturing

Loan Approval Date

3/22/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 23 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 23 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Amcore Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

VC Firms on Twitter

SBA Approved Banks in Rockford, Illinois

Getting an SBA Loan in Illinois