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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 > Offices And Clinics Of Chiropractors Loan | ||||
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Rockford, Illinois SBA Lenders
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Rockford, Illinois Lender Lends Money to Offices And Clinics Of Chiropractors CompanyWant to talk 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 Alpine Bank Of Illinois worked out well for our friends at one local company in Rockford, Illinois. The business was able to get an SBA loan for $85,000. Nice! SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS SBA Loan Lender ALPINE BANK OF ILLINOIS This was a Low Documentation SBA loan. The SBA created 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8041 - Offices and Clinics of Chiropractors NAICS Code 621310 - Chiropractors Loan Approval Date 5/17/2002 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. 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 application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 - Friends and Family Who Lends Money to Small Businesses in Rockford, Illinois
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