Business Loan from Amcore Bank Given to Eating Places Company

An SBA loan from Amcore Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Spring Valley, Illinois business owner got a $85,500 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Amcore Bank, out of Rockford, Illinois. The loan was granted and they received $85,500 to help grow their Spring Valley, Illinois business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SPRING VALLEY, IL 61362

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

9/1/2000

Loan Approval Gross Amount

$85,500

Loan Approval from the SBA

Of the total $85,500 loan amount, the SBA guaranteed $68,400.

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 did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $85,500. How would you spend $85,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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SBA Participating Banks in Illinois