Borrow Money to Buy a Pickerman's Franchise

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

Pickerman's franchise loans are available to Rockford, 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 Pickerman's franchise in 2002. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

PICKERMAN'S SOUP & SANDWICH
ROCKFORD, IL 61107

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/12/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pickerman's franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Amcore Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Amcore Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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