 |
 |
May 15, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Local Bus Charter Service Loan | ||||
 |
||||
Getting an SBA 7A Loan in Madison, Wisconsin
|
||||
 |
Amcore Bank Gives Bank Loan to Local Bus Charter Service CompanyBank loans in Wisconsin are tough to come by these days. We take a look at one Wisconsin bank loan, provided by an Illinois bank, that was approved by the SBA. By giving the right information to Amcore Bank, this Madison, Wisconsin business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: LOCAL BUS CHARTER SERVICE SBA Loan Lender AMCORE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4141 - Local Bus Charter Service NAICS Code 485510 - Charter Bus Industry Loan Approval Date 8/14/2001 Loan Approval Gross Amount $112,000 Loan Approval from the SBA Of the total $112,000 loan amount, the SBA guaranteed $95,200. 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 10 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Amcore Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in Rockford, Illinois
|
|
||
|
||||
|
|
||||