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May 11, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Paint And Coating Manufacturing Loan | ||||
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Cortland, Illinois Bank Loan
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Financing for Paint and Coating ManufacturingWith these commercial loans for paint and coating manufacturing, the SBA guarantees the lender that the loan will be repaid. This paint and coating manufacturing loan for $96,000 was given to an Illinois entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cortland, Illinois was able to borrow $96,000 from Amcore Bank. The SBA made the loan possible by guaranteeing $48,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PAINT AND COATING MANUFACTURING SBA Loan Lender AMCORE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 325510 - Paint and Coating Manufacturing Loan Approval Date 6/29/2007 Loan Approval Gross Amount $96,000 Loan Approval from the SBA Of the total $96,000 loan amount, the SBA guaranteed $48,000. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links: Best Rockford, Illinois Banks for Small Business
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