Amcore Bank Provides SBA Loan to Buy Verlo Mattress Factory Stores Franchise

Need a loan to invest in a Verlo Mattress Factory Stores franchise? Amcore Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Woodstock, Illinois and are interested in buying a Verlo Mattress Factory Stores franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Amcore Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

VERLO MATTRESS OF LAKE GENEVA
WOODSTOCK, IL 60098

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This SBA loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

5/9/2001

Loan Approval Gross Amount

$255,600

Loan Approval from the SBA

Of the total $255,600 loan amount, the SBA guaranteed $191,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Verlo Mattress Factory Stores franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Verlo Mattress Factory Stores, LLC

Business Cash Advances

SBA Participating Banks in Rockford, Illinois

Illinois SBA Banks