Loan to Buy Premier Rental Purchase Franchise Issued By Riverside Community Bank

Need a loan to purchase a Premier Rental Purchase franchise? Riverside Community Bank has a history of making these loans and they are guaranteed by the SBA.

Premier Rental Purchase franchise loans are available to Rockford, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Riverside Community Bank, based in Rockford, Illinois, issued an SBA franchise loan for a Premier Rental Purchase franchise in 2006. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

J & J ENTERPRISES, INC.
ROCKFORD, IL 61107

SBA Loan Lender

RIVERSIDE COMMUNITY BANK
6855 E RIVERSIDE BLVD
ROCKFORD, IL 61114

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532310 - General Rental Centers

Loan Approval Date

10/20/2006

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Premier Rental Purchase franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Riverside Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Premier Rental Purchase

Getting a Small Business Loan

SBA Approved Banks in Rockford, Illinois

Illinois SBA 7A Lenders