Rockford, Illinois Lender Lends Money to Sheet Metal Work Company

Get to know Rockford, Illinois banks that specialize in SBA loans and know how to work with entrepreneurs. Amcore Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Crystal Lake, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Amcore Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SHEET METAL WORK
CRYSTAL LAKE, IL 60014

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3444 - Sheet Metal Work

NAICS Code

332322 - Sheet Metal Work Manufacturing

Loan Approval Date

4/24/2001

Loan Approval Gross Amount

$58,860

Loan Approval from the SBA

Of the total $58,860 loan amount, the SBA guaranteed $50,031.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Amcore Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

SBA 7A Banks for Rockford, Illinois Loans

Illinois SBA Bank Lenders