Chicago, Illinois Entrepreneur Gets a Bank Loan

Would an Illinois SBA loan help your business get to the next level? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs.

Getting a small business loan in Chicago, Illinois was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Amcore Bank. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
Chicago, IL 60609

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

8/4/2005

Loan Approval Gross Amount

$374,400

Loan Approval from the SBA

Of the total $374,400 loan amount, the SBA guaranteed $280,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 23 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Amcore Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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