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January 20, 2025 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Plastics Materials And Resins Loan | ||||
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Getting Commercial Loans in Rockford, Illinois
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Amcore Bank Gives Bank Loan to Plastics Materials And Resins CompanyIllinoisBank loans are available to Illinois firms through the SBA. In this case, an Illinois bank provides the loan. This company, based in Rockford, Illinois, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Amcore Bank. We've got the inside scoop on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS MATERIALS AND RESINS SBA Loan Lender AMCORE BANK This lender issued this particular SBA 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 2821 - Plastics Materials and Resins NAICS Code 325211 - Plastics Material and Resin Manufacturing Loan Approval Date 5/29/2001 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Amcore Bank and they will explain how you can get an SBA loan for your company. 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: Where to Get an SBA Loan in Rockford, Illinois Where to Get an SBA Loan Illinois
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