Loan to Buy Merlin's Muffler Franchise Issued By Amcore Bank

Need a loan to purchase a Merlin's Muffler franchise? Amcore Bank has a history of making these loans and they are guaranteed by the SBA.

Merlin's Muffler franchise loans are available to Plainfield, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Amcore Bank, based in Rockford, Illinois, issued an SBA franchise loan for a Merlin's Muffler franchise in 2002. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

MERLIN MUFFLER & BRAKE
PLAINFIELD, IL 60544

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to offer quick 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

811112 - Automotive Exhaust System Repair

Loan Approval Date

4/30/2002

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Merlin's Muffler franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Merlin Muffler & Brake

Debt Financing

SBA Approved Banks in Rockford, Illinois

Illinois SBA 7A Lenders