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May 1, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > John Shanks And Coral Shanks Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Loan to Buy Meineke Discount Muffler Franchise Issued By Amcore BankBorrowing money to buy a Meineke Discount Muffler franchise? Amcore Bank has a history of making these loans and they are guaranteed by the SBA. Meineke Discount Muffler franchise loans are available to Rockford, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Amcore Bank, based in Rockford, Illinois, issued an SBA franchise loan for a Meineke Discount Muffler franchise in 2007. We've got all the details on this Illinois small business loan. SBA Loan Borrower JOHN SHANKS AND CORAL SHANKS 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 811112 - Automotive Exhaust System Repair Loan Approval Date 1/12/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My 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. 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: Accountant's Role in Securing Financing SBA Banks in Rockford, Illinois Where to Get an SBA Loan Illinois
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