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November 15, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Port Washington, Business Loans > Port Washington State Bank Port Washington Business Loans > Veterinary Services For Animal Specialties Loan | ||||
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Raising Money in Brown Deer, Wisconsin With SBA Loans
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How to Get a Loan for Personal ServicesWith these business loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $210,200 was given to a Wisconsin entrepreneur in 2002. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Port Washington State Bank, out of Port Washington, Wisconsin. The loan was granted and they received $210,200 to help grow their Brown Deer, Wisconsin business. SBA Loan Borrower COMPANY TYPE: VETERINARY SERVICES FOR ANIMAL SPECIALTIES SBA Loan Lender PORT WASHINGTON STATE BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0742 - Veterinary Services for Animal Specialties NAICS Code 812990 - Personal Services Loan Approval Date 1/29/2002 Loan Approval Gross Amount $210,200 Loan Approval from the SBA Of the total $210,200 loan amount, the SBA guaranteed $157,650. 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 4 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Raising VC Money for Social Networking Companies Who Lends Money to Small Businesses in Port Washington, Wisconsin
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