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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Beauty Shops Loan | ||||
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Amcore Bank Small Business Loan
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Financing for Beauty SalonsLooking for loans for beauty salons? The SBA may be the answer. This $70,000 beauty salons loan was issued by an Illinois bank. This company knew how to go about getting a business bank loan. Based in South Elgin, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Amcore Bank, based in Rockford, Illinois. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender AMCORE BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 6/4/2001 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 20 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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:
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