Services to Buildings and Dwellings Loans

Looking for loans for services to buildings and dwellings? Talk to a banker who works with the SBA. This $438,500 services to buildings and dwellings loan was issued by an Illinois bank.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Amcore Bank, out of Rockford, Illinois. The loan was granted and they received $438,500 to help grow their Palatine, Illinois business.

SBA Loan Borrower

COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS
PALATINE, IL 60067

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561790 - Services to Buildings and Dwellings

Loan Approval Date

5/4/2007

Loan Approval Gross Amount

$438,500

Loan Approval from the SBA

Of the total $438,500 loan amount, the SBA guaranteed $328,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 18 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Financing Your Business

SBA 7A Banks for Rockford, Illinois Loans

SBA Lenders in Illinois