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November 23, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Lion's Pride LLC Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Borrow Money to Buy a Lion's Choice FranchiseBorrowing money to purchase a Lion's Choice franchise? Amcore Bank has a history of making these loans and they are guaranteed by the SBA. Lion's Choice franchise loans are available to Warrenville, 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 Lion's Choice franchise in 2000. We've got all the details on this Illinois small business loan. SBA Loan Borrower LION'S PRIDE LLC SBA Loan Lender AMCORE BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 5812 - Eating Places Loan Approval Date 5/12/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Lion's Choice franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $75,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 - How to Borrow Money Small Bank Loans in Rockford, Illinois
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