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December 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Metal Coating, Engraving And Allied Services Loan | ||||
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Rockford, Illinois SBA Banks
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Entrepreneur Works With Rockford, Illinois Bank to Get an SBA LoanA Rockford, Illinois small business loan can be yours. Learn how a business got a $884,000 business loan from this Illinois bank. This loan to a local firm is a good example of an SBA loan. Amcore Bank made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: METAL COATING, ENGRAVING AND ALLIED SERVICES SBA Loan Lender AMCORE BANK This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332812 - Metal Coating, Engraving and Allied Services Loan Approval Date 10/19/2004 Loan Approval Gross Amount $884,000 Loan Approval from the SBA Of the total $884,000 loan amount, the SBA guaranteed $663,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Obtaining Funding From a Venture Capitalist Best Banks in Rockford, Illinois
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