Entrepreneur Works With Rockford, Illinois Bank to Get an SBA Loan

Find Rockford, Illinois banks that specialize in small business loans and know how to work with entrepreneurs. Amcore Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Princeton, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Amcore Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
Princeton, IL 61356

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

The lender provided this loan for a small business 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

484110 - General Freight Trucking, Local

Loan Approval Date

3/31/2006

Loan Approval Gross Amount

$69,000

Loan Approval from the SBA

Of the total $69,000 loan amount, the SBA guaranteed $34,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Rockford, Illinois Loans

Illinois SBA 7A Lenders