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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 Tools, Metal Cutting Types Loan | ||||
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Who Lends Money to Rockford Businesses
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Rockford, Illinois Entrepreneur Gets a Bank LoanWould an Illinois bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Illinois bank, which offers SBA loans to Illinois entrepreneurs. Getting a small business loan in Rockford, Illinois was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Alpine Bank Of Illinois. Here are the details on this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES SBA Loan Lender ALPINE BANK OF ILLINOIS 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 3541 - Machine Tools, Metal Cutting Types NAICS Code 333512 - Machine Tool Manufacturing Loan Approval Date 2/5/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Find an SBA Lender in Rockford, Illinois
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