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May 9, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Lawn And Garden Tractor And Home Lawn And Garden Equipment Manufacturing Loan | ||||
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SBA Lender Schaumburg
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Business Loan from Amcore Bank Given to Lawn And Garden Tractor And Home Lawn And Garden Equipment Manufacturing CompanyAmcore Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Schaumburg, Illinois was able to borrow $350,000 from Amcore Bank. The SBA made the loan possible by guaranteeing $175,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN TRACTOR AND HOME LAWN AND GARDEN EQUIPMENT MANUFACTURING 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 333112 - Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing Loan Approval Date 1/19/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 9 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. We can help you find the best banks for small businesses in Schaumburg 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: SBA Participating Banks in Rockford, Illinois
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