Middleton Community Bank Gives Bank Loan to Field Crops Company

Business loans in Wisconsin are are few and far betweeen these days. We take a look at one Wisconsin business loan, provided by a Wisconsin bank, that was approved by the SBA.

This business, based in Brooklyn, Wisconsin, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Middleton Community Bank. We've got the inside scoop on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: FIELD CROPS
BROOKLYN, WI 53714

SBA Loan Lender

MIDDLETON COMMUNITY BANK
3207 PARMENTER ST
MIDDLETON, WI 53562

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves 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

0139 - Field Crops

NAICS Code

111219 - Vegetable and Melon Farming

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

SBA Participating Banks in Middleton, Wisconsin

Wisconsin SBA 7A Banks