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May 17, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Associated Bank Rockford Business Loans > Beauty Shops Loan | ||||
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SBA Lender Rockford, Illinois
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Rockford, Illinois Bank Gives SBA Loan to Beauty Shops CompanyThinking about meeting with a Rockford, Illinois bank about a business loan? Here's one Illinois business loan, issued by a Rockford bank, that was approved by the SBA. Applying for an SBA loan with Associated Bank worked out well for our friends at one local company in Rockford, Illinois. They got an SBA loan for $29,464. Great job! SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender ASSOCIATED BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops Loan Approval Date 4/19/2000 Loan Approval Gross Amount $29,464 Loan Approval from the SBA Of the total $29,464 loan amount, the SBA guaranteed $23,571. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Rockford or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Advice on Getting a Small Business Loan Good Banks for Small Business in Rockford, Illinois
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