Rockford, Illinois Entrepreneur Gets a Business Loan

IllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, an Illinois bank provides the loan.

You can learn something about getting a small business loan in Rockford, Illinois by studying this loan to a local company, made back in 2006. Banks like Amcore Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MASONRY CONTRACTORS
Rockford, IL 61102

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238140 - Masonry Contractors

Loan Approval Date

8/30/2006

Loan Approval Gross Amount

$118,500

Loan Approval from the SBA

Of the total $118,500 loan amount, the SBA guaranteed $88,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Bank Credit Lines

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SBA Participating Banks in Illinois