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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Alpine Bank Of Illinois Rockford Business Loans > Machine Shops Loan | ||||
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Illinois SBA Loan from Alpine Bank Of Illinois
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Rockford, Illinois Business Gets SBA-Guaranteed Funding from Alpine Bank Of IllinoisAlpine Bank Of Illinois has a track record as a leading provider of SBA loans. Find out how this Illinois entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Alpine Bank Of Illinois, out of Rockford, Illinois. The loan was granted and they received $190,000 to help grow their Rockford, Illinois business. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender ALPINE BANK OF ILLINOIS 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 332710 - Machine Shops Loan Approval Date 5/18/2006 Loan Approval Gross Amount $190,000 Loan Approval from the SBA Of the total $190,000 loan amount, the SBA guaranteed $95,000. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Alpine Bank Of Illinois had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Alpine Bank Of Illinois made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - Getting Venture Capital SBA Banks in Rockford, Illinois
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